Lloyd's of London has published its strategy for the next two years. The plan identifies some of the major issues which will impact the Lloyd's market over the coming years and sets out the main challenges which Lloyd's must meet in order to maintain its position in the global market.
These issues are:
- Maintaining underwriting discipline
- Maintaining London's position as a leading centre for specialist insurance and reinsurance
- Maintaining access to business in a challenging distribution environment
- Maintaining the attractiveness of Lloyd's compared to other specialist insurance markets
- Protecting capital, licences, brand and ratings
Included in the plan is the work which Lloyd's will be doing in order to ensure that the market is ready for the implementation of Solvency II. This includes: continuing the design and development work in support of the three pillars of Solvency II, continuing to work and gain approval for Lloyd's internal capital model, continue to monitor and support managing agents in the development of their own internal capital models and work with market participants to refine the market's overall risk appetite in preparation for Solvency II.
For further information: Lloyd's Strategy 2010 - 2012