Insurers have been left uncertain in regards to how the Brexit will change regulations for the industry. Now, the London Market Group (LMG) has laid out its lobbying priorities for the coming months.
Nicolas Aubert, chairman of the LMG, said the role of the organisation is to build on London’s position and reputation as the global centre of insurance excellence, and identified its two key priorities for doing this in the near future.
“The first is in lobbying government and partnering with other relevant bodies such as CityUK and the City of London, from a market perspective – particularly around maintaining market access and competitiveness,” Aubert said. The organisation has spent the first half of 2016 developing its government relations and has already met with a number of parliamentarians. LMG will be working to ensure it meets with all key audiences in the coming months, Aubert said.
The other focus is communicating to insurance buyers around the globe that London is still one of the strongest markets in the world.
“They need to know how we can help them and that, for the foreseeable future, it is very much business as usual,” said Aubert. “So we will be moving forward with our work in articulating and communicating the London Market story.”
The London insurance market now controls over £60bn in business and contributes 21% of the City of London’s GDP.
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