london brokers: the changing landscape graham clarke
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London Brokers:the changing landscape
Graham Clarke
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– Brief history
– Changing broker landscape
– Premium income into Lloyd’s
– Access into London
– Challenges facing London brokers
– The future
IntroductionIntroduction
History
Changes
Premium
Challenges
The future
Conclusion
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
History of the London broker
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
Skills of the London broker
- Marketing
- Client handling
- Technical
- Processing
- Sales
- Claims
- Strategic
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The changing broker landscapeIntroduction
History
Changes
Premium
Challenges
The future
Conclusion
Bain Dawes
Bland Payne
C.T.Bowring
H.Clarkson
Robert Bradford
Fenchurch
C.E.Heath
Hinton Hill Coles
Hogg Robinson
Alexander Howden
Nelson Hurst
Leslie Godwin
Lowndes Lambert
Thos R. Miller
J.H.Minet
Nicholls, Pointing & Coulson
Seascope
Sedgwick Forbes
Stewart Wrightson
Jardine d’Ambrumenil
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AW Bain & Son, Alexander Howden, Alexander Stenhouse, Anderson Finch Villiers, Andrew Weir, APS Int, Arbon Langrish, ARPS International,
H Clarkson, Bain Dawes, Bain Hogg, Bank America Insurance Brokers,
Bell Nicholson Henderson, Bremar Ewart, Clarkson Marine, Clarkson Peek Puckle, Clarkson Puckle Home, Cork Bays & Fisher,
DR Fleet, Eckersley, Hicks & Co, Edward Lumley & Son, Egis International,
EPN, Ernest A Notcutt & Co, Gil Carvajal & Partners, Gil y Carvajal,
Greig UK,
H Clarkson,
H Leonard Puckle & Co, Halford Shead & Co, Handland, Henry G Nicholson, Hogg Group, Hogg Robinson,
Howard Houlder & Partners, Howell King, HRGM, Jenner Fenton Slade, JH Minet & Co,Kingaby Simmons Mauduit Ltd, Leslie & Godwin, Macey Williams, MacMillan Hogg, Midland Hogg Robinson, Mountain Insurance Brokers,
Nicholson Chamberlain & Colls, Nicholson Leslie, Stenhouse Marketing Services, Robert Bradford & Co, Sir William Garthwaite, Sten-Re, Sterling Offices, Stirling Besso, W.E Found & Co
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A.G Winchester, Aldgate Insurance Brokers, Anthony Lumsden & Co, Bankrisk Ltd, Bellew Parry & Raven, Bevington, Vasey & Foster, Bland Payne, Bland Welch & Co, C.T. Bowring & Co, Carter Brito e Cunha, E.W. Payne & Co, Henry Head & Co, H.G. Poland, Johnson & Higgins, Keith Shipton & Co, Needler Heath, P Wigham-Richardson & Co,
Price Forbes & Co, Resolutions International, Richard Sparrow & Co, Roger Lark & Sons, Rose Thomson Young, Ross Collins, Sedgwick Associated Ltd, Sedgwick Forbes Bland Payne, Sedgwick Forbes, Sedgwick Group, Sedgwick Payne, SG Services, White Kennett, Wigham Poland Holdings, Wigham-Richardson & Bevington, Wilcox Intermediaries, Wilcox Reinsurance, Johnson & Higgins
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Top UK brokers 2003Introduction
History
Changes
Premium
Challenges
The future
Conclusion
– Aon– Willis– Marsh– JLT– Heath Lambert– Benfield Group– Alexander Forbes– HSBC Insurance Brokers– Miller– SBJ Group
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
0
2000
4000
6000
8000
10000
12000
14000
16000
1970 1980 1990 2003
0
50
100
150
200
250
300
Gross capacity
Nos of Brokers
Lloyd’s capacity & broker numbers
£m
Prov accredited brokers
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
Challenges facing London brokers
- Broking market
- Underwriting market
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
Broking market
- Regulation
- Staff
- Technology
- Professional Indemnity
- Pension deficits
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
Underwriting market
- Capacity
- New players
- Business opportunities
- Underwriting for profit
- Lloyd’s franchise board
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Lloyd’s: Franchise Board
Franchise or Executive
Clear responsibilities
determined
Monitoring of accountabilities
Compliance Committee
Franchise Board
Council
Goal and Principles
Introduction
History
Changes
Premium
Challenges
The future
Conclusion
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion Global players
Specialistfocus
Skill & relationship
driven
Internet
Generalist
Strategic
Specialist
Commodity
$
$
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Introduction
History
Changes
Premium
Challenges
The future
Conclusion
The future
- Technology will play an important role
- Regulation will play a greater role
- M&A activity
- Reforms must come
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Introduction
History
Changes
Access
Premium
Changing role
The future
Conclusion
– London offers exciting opportunities
– A limited selection of London brokers
– London brokers must add value
Conclusion
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London Brokers:the changing landscape
Graham Clarke