Anthony Hilton: Courage behind the insurers’ recovery
Lloyd’s powered London back to the number one spot in global insurance
Saturday 11 May 2013
A reception on the trading floor of Lloyd’s of London on Thursday in aid of an excellent charity, the Windsor Leadership Trust, brought home how the City can recover from even the biggest of self-inflicted disasters.
Twenty years ago, the insurance market was in as bad a state as banking is today – brought down by greed, incompetence and a lack of ethics. But it pulled back from the brink and put together a plan that delivered reform, renewing itself so successfully that businesses spawned by Lloyd’s powered London back to the number one spot in global insurance.
What tends to be forgotten though is the courage of the regulators, who also gambled on the market’s ability to survive when it would have been so much easier and safer to have closed it down. One fears that, were similar problems to afflict Lloyds today, it would not be so lucky. The modern regulator would not take such a risk, we would not have the insurance powerhouse that is the modern Lloyd’s.
Olympic diver has made his modelling debut for Adidas
- 1 Daniele Watts: Django Unchained star's white boyfriend Brian Lucas confirms LAPD internally investigating 'racist' detainment
- 2 Isis release 'Flames of War' video warning Obama of attacks troops could face in Iraq
- 3 Pakistani passenger power forces two politicians off plane
- 4 Say yes to 'no-poo': It's been three years since I stopped washing my hair
- 5 John Travolta addresses former pilot's gay romance allegations publicly for the first time: 'That was the lowest I'd ever felt'
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
Scottish independence referendum: A nation divided against itself
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Portuguese academic says British are 'filthy, violent and drunk'
Russia freezes Ukraine into submission: Kiev admits country doesn't have enough fuel for winter
iJobs Money & Business
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...
£18000 - £23000 per annum + Commission: SThree: Real Staffing are currently lo...
£20000 - £25000 per annum + OTE £35,000 first year: SThree: The SThree group i...
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...