23 March 2018, London, UK – The Board of LIIBA announced today that Roy White, Chairman of UK Specialties at Marsh, will become its new Chair – having previously served three years as Vice Chairman. He will succeed Andrew Agnew of Arthur J Gallagher Ltd and serve a two year term.
Roy White commented: “I am honoured to be taking on this role at what is such a pivotal time for the insurance industry. LIIBA’s mission is to ensure that London remains where the world wants to do business by improving its competitive position and, as Chair, I will continue to champion our key priorities.
“Making London an easier place to do business is critical; we need to reduce our reliance on paper, while maintaining face-to-face negotiations with insurers for which this market is renowned. A key part of this is embracing electronic placement, and we are determined to see PPL become the predominant distribution tool in the market by the start of 2019. I and the entire board are committed to ensuring that adoption levels grow significantly across the market.
“This is a key period for our community in its relationship with our regulator, with the FCA’s ongoing Wholesale Insurance Broker Market Study. LIIBA has already established a key role in this process and we will continue to support our members and the FCA to ensure the highest quality outcome.
“The clock is ticking in terms of Brexit. Our imperative is to ensure that the flow of business into London can continue whatever the outcome of the negotiations, and brokers are able to make the right contingency plans to protect the interests of their clients.
“The news of the 21-month transition period is to be welcomed; it provides additional preparation and negotiation time during which to secure the post-exit terms and find a solution for contract continuity – so that clients with policies in play as the UK leaves the EU are not disadvantaged. We will continue to lobby the UK government and regulators, and in the 27 countries that will remain part of the EU, to try and achieve the best possible trade agreement for our clients.”
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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