Embargoed till 00:01 4th February 2019, London, UK – London and International Insurance Brokers’ Association (LIIBA) today announced publication of its agenda for 2019: Domestic Efficiency and International Growth.
Christopher Croft, the London and International Insurance Brokers’ Association’s CEO, said: “We want to introduce an element of longer-term ambition to our priorities. The agenda combines three previously-stated priorities – Brexit, PPL and the FCA’s review of the wholesale market, but also looks beyond these so as not to lose sight of the future. We believe that this agenda achieves that balance.”
“In terms of PPL, we want to reap the benefits of our investment so far and develop a truly digitised market. Looking further forward, we want to explore opportunities for new business in both north and south America, see a greater emphasis on talent and diversity and play our role in ensuring the ongoing competitiveness of the market by, amongst other things, assisting new brokers to enter the market.”
From the 2018 agenda, LIIBA has delivered a number of tangible successes:
• More than doubling the number of brokers signed up to electronic trading via PPL. This has seen volumes bound over the platform increase by more than 300%
• Ensuring UK government understands what insurance intermediaries need from our future relationship with EU. And we have taken this message to EU politicians and regulators.
• Delivered success in other areas: seeing US tax authorities remove the burden of FATCA from our members; ensuring a manageable approach to the Criminal Finance Act; and working with FCA to provide as good as possible an input to the Wholesale Insurance Broker Market Study.
Note to editors:
London & International Insurance Brokers’ Association (LIIBA) is the trade association representing the interests of Lloyd’s insurance and reinsurance brokers operating in the London and international markets. We have the support of the vast majority of Lloyd’s Brokers, accounting for over 95% of the Market’s business.
Our members are engaged in the placement of $67bn of premiums in the London Market and another $24bn across the world. Collectively they contribute to the Market’s 26% share of The City’s GDP or 10% of London’s GDP (2015).
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