London market Target Operating Model News

Lloyd’s Aims to Halve Costs as It Modernizes Market Over Next 5 Years

Lloyd’s of London plans to halve the cost of buying insurance through the 330-year-old market as part of a strategy to restore the fortunes of the company. Chief Executive Officer John Neal said he planned to cut the cost of …

Lloyd’s Innovation Drive Faces Headwinds from Some Brokers, Underwriters

Lloyd’s of London, the world’s oldest insurer of seafaring vessels, is facing its own perfect storm. Old-fashioned business practices, exposure to natural disasters, competition from rival centers and Brexit are all threatening Lloyd’s reputation as the place to insure anything …

Lloyd’s Chief Operating Officer Khoury-Haq to Leave the Corporation

Lloyd’s of London announced that its chief operating officer, Shirine Khoury-Haq, has decided to leave the corporation, after nearly five years. Khoury-Haq joined Lloyd’s in 2014 and is a member of Lloyd’s executive committee. Her responsibilities include global operations, information …

London Market Group Launches Team to Manage Market Services Modernization

The London Market Group (LMG) announced the launch of London Insurance Market Operations & Strategic Sourcing (LIMOSS) led by Patrick Molineux as managing director. LIMOSS has been established to source and manage the portfolio of market services which the London …

Ruschlikon Expands Global Reach in 2015; Use of ACORD Standards Rises 20%

Ruschlikon, the global community of insurers, brokers and reinsurers with a mission to optimize industry administrative costs and enhance client services, announced achieved several important milestones in 2015 — a year that saw an expansion of its global footprint. Ruschlikon* …