Anthony Hilton: Insurance expert Hiscox will be sorely missed
Saturday 19 May 2012
Having built one of the country's most successful insurance businesses over the last 40 years, Robert Hiscox will be sorely missed as he goes off into retirement – not least because he is one of the few leaders who is willing to say in public what he thinks in private.
But even by his standards the speech he delivered on Tuesday at the Insurance Times conference was a corker as he railed against the sheer incompetence and inadequacy of the Financial Services Authority's efforts to regulate the sector.
As ever, though, his purpose was serious. London's insurance industry is on a roll, with London reasserting itself as the leading global centre. Yet when regulation is transferred, as it soon will be, to the Bank of England, it will be supervised by a team whose senior people have no insurance background. If Britain is serious about supporting the industry with coherent and proportionate regulation, then at the very least, says Mr Hiscox, there should be a deputy governor appointed who has detailed knowledge of the business.
It is hard to disagree. It is a pity he is retiring – he would be the ideal choice himself.
- 1 The BBC has just done more to eradicate ‘terrorism’ than all our wars since 9/11
- 2 Dog thinks owner is drowning in lake, dives in and tries to pull him out
- 3 Thank heavens for Louise Mensch and her foul-mouthed tweets to world leaders
- 5 Phil Neville backtracks on Tomas Rosicky 'I'd smash him' comments from Match of the Day 2
Saudi preacher who 'raped and tortured' his five -year-old daughter to death is released after paying 'blood money'
Greece elections: Greek PM Alexis Tsipras takes aim at 'neo-liberal' Europe as country gears up for prolonged austerity battle
Auschwitz liberation 70th anniversary: Woman sent to three Nazi death camps describes surviving gas chamber
Prince Philip set to be knighted by Australia: Celebrate by reading his greatest gaffes
New York snow: Winter Storm Juno downgraded as 'one of the largest snowstorms in history' fails to show
'We would evict Queen from Buckingham Palace and allocate her council house,' say Greens
French court convicts three over homophobic tweets, in case hailed as a 'significant victory' by LGBT rights campaigners
Greece elections: Syriza and EU on collision course after election win for left-wing party
British Muslim school children suffering a backlash of abuse following Paris attacks
Islamic history is full of free thinkers - but recent attempts to suppress critical thought are verging on the absurd
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
iJobs Money & Business
£16500 - £16640 per annum: Recruitment Genius: This fast growing Finance compa...
£30000 - £32000 per annum + benefits : Ashdown Group: A highly successful, int...
£18000 - £20000 per annum: Recruitment Genius: This rapidly expanding business...
£25 - 28k + Bonus: Guru Careers: An In-house / Internal Recruiter is needed to...