UK gov consults on how to hold PRA and FCA to account over new competitiveness objectiveThe UK government is calling for views on how it should hold its financial regulators to account on their new objective to promote the City’s global competitiveness, a move hailed by the London (re)insurance market as a “significant” step in ensuring greater accountability of the watchdogs.
TVMcGovern: No benefit to UK being “first mover” on OECD taxLondon Market Group chair Sean McGovern has warned there is “no benefit to being the first mover” in implementing the OECD’s global minimum tax rate as the regime can only work if “all major jurisdictions” adopt the approach at a similar time.
Data Council names Gallagher’s Williams-Walker as technical group chairThe London Market Group’s (LMG) Data Council has appointed Nick Williams-Walker as chair of its technical group, succeeding Jonathan Prinn who will remain a member of the Council.
LMG kickstarts drive to encourage young talent into insurance sectorThe London Market Group (LMG) has kickstarted a drive to make the industry more attractive to young people having held its first careers events for university students in Manchester and Nottingham this week.
Industry welcomes UK govt plans to launch competitiveness objective for regulatorsProminent London market bodies have given their backing to government plans to shake up UK financial services regulation, which will see the introduction of a competitiveness objective for the City’s regulators.
LMG’s Data Council confirms Q1 2023 implementation for market reform contractThe London Market Group (LMG)’s Data Council has confirmed that the intelligent market reform contract (MRC v3) will be released at the end of the first quarter of 2023, at the same time as the updated core data record (CDR v3.2).
LMG confirms Axa XL’s McGovern as new chairThe London Market Group (LMG) has confirmed the appointment of Axa XL’s UK and Lloyd’s CEO Sean McGovern as its next chair, a move first revealed by The Insurer.
LMG to unveil Axa XL’s McGovern as new chairAxa XL’s UK and Lloyd’s CEO Sean McGovern will become the next chairman of influential London market trade body the London Market Group (LMG), The Insurer can reveal.
Reshaping our market demographicThe challenge of attracting and retaining young talent, and ensuring that it reflects the communities we serve, has been a topic for discussion in boardrooms and at industry conferences for several years now.
LMG adds LMG adds Beazley’s Turk to boardThe London Market Group (LMG) has added Beazley’s Rachel Turk to its board.
LMG’s Data Council launches consultation on iMRCThe London Market Group (LMG)’s newly established Data Council has launched a consultation process which will enable market participants to give input on the revised version of the intelligent market reform contract (iMRC).
London market lobbies PRA to ease burden on captivesThe London (re)insurance market is lobbying the Bank of England to make it easier for companies to set up in-house insurers, a move the industry said would help London catch up with competitors.
London calls for regulators to be given competitiveness remit as House of Lords inquiry beginsThe London market has stepped up its campaign for the introduction of a competitiveness remit for UK regulators with a House of Lords inquiry session this morning hearing how the market’s ability to meet the emerging challenges of cyber and climate change may be compromised without reforms.
LMG: Parliament inquiry an opportunity for market to prove its worthThe London Market Group has welcomed news that Parliament is launching an inquiry into the regulation of the London insurance market, calling the move an important opportunity for the sector to highlight its value to the economy.
LMG creates new Data Council to drive London market digitisationThe London Market Group has created a new Data Council to drive the digitisation across the London market.
LMG board adds WTW’s Swift as latest Liiba representativeThe London Market Group has added Willis Towers Watson’s Alastair Swift to its board.
The London market agenda for action…LMG’s new CEO outlines her immediate priorities and emphasises the importance of speaking with one voice.
London Market Group confirms Wagstaff as permanent CEOThe London Market Group has confirmed Caroline Wagstaff as the group’s permanent CEO.
LMG adds Fidelis’ Roufca to boardThe London Market Group has appointed Fidelis Insurance’s Patricia Roufca to its board as a representative of the International Underwriting Association.
LMG calls on policymakers to boost market competitiveness post-BrexitThe London Market Group (LMG) has called on UK policymakers and regulators to use Britain’s exit from the European Union to rethink capital rules, boost the (re)insurance sector’s competitiveness and bring in foreign investment.