Lloyd’s hosts Meet the Market in Vancouver
On 8 October Lloyd’s Canada held their second Meet the Market in Vancouver at the Canadian Broadcast Centre, following on from the successful event held in Toronto in 2014.
The event drew a crowd of over 350 attendees from across Canada, including 23 “boxholders” representing Lloyd’s syndicate underwriters and brokers.
Lloyd’s Meet the Market events aim to recreate the underwriting room in London where much of the business is still done face to face.
These events facilitate interaction with insurance practitioners from the local region and the Lloyd’s market, providing an excellent opportunity to gain first hand knowledge of market conditions and gauge interest levels in various classes of business.
Sean Murphy, President, Lloyd’s Canada opened the event by providing an overview about Lloyd’s business in Canada, which followed with a speech by Inga Beale, Lloyd’s CEO. She conveyed the importance of the coverholder model, progress on modernising and importance of innovation in the industry.
The audience also heard from a panel discussion including CEOs Mark Cloutier, Brit, Mark Wheeler, Ironshore, Inga Beale and Paul Hennessy, President, Navigators. Topics ranged from innovation, emerging risks, market disrupters and the impact of M&As.
The opening discussions provided a good segue for local attendees to then meet with the 23 different Lloyd’s boxholders.
Key facts about Lloyd’s 2014 business in Canada:
- Lloyd’s total premium in Canada accounted for approximately C$2.6bn
- Canada is Lloyd’s 3rd largest market following the US and UK
- Lloyd’s is the largest liability player and the second largest player in commercial property in Canada
- Premiums in Canada emanate primarily from Que., ON, AB and BC which represent Canada’s largest economies
- From 2009-2014 Lloyd’s direct written premiums grew by 47%.
View photos from the event below.
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