Calling for a cultural revolution
Featuring Dermot O’Donohoe, CEO, Hamilton at Lloyd’s
Lloyd’s of London remains a compelling market for companies looking to leverage its iconic brand and global licenses: however, it is an expensive proposition. For every £1 that insurers and reinsurers receive, 40p is spent on expenses and acquisition costs for brokers. The frictional costs of doing business at Lloyd’s are high, and it is clear that this model is neither efficient nor sustainable at a time when Lloyd’s faces competition from other hubs such as Bermuda and the United States.