London Brokers: the changing landscape Graham Clarke.

London Brokers:the changing landscape

Graham Clarke

– 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

Introduction

History

Changes

Premium

Challenges

The future

Conclusion

History of the London broker

Introduction

History

Changes

Premium

Challenges

The future

Conclusion

Skills of the London broker

- Marketing

- Client handling

- Technical

- Processing

- Sales

- Claims

- Strategic

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

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

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

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

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

Introduction

History

Changes

Premium

Challenges

The future

Conclusion

Challenges facing London brokers

- Broking market

- Underwriting market

Introduction

History

Changes

Premium

Challenges

The future

Conclusion

Broking market

- Regulation

- Staff

- Technology

- Professional Indemnity

- Pension deficits

Introduction

History

Changes

Premium

Challenges

The future

Conclusion

Underwriting market

- Capacity

- New players

- Business opportunities

- Underwriting for profit

- Lloyd’s franchise board

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

Introduction

History

Changes

Premium

Challenges

The future

Conclusion Global players

Specialistfocus

Skill & relationship

driven

Internet

Generalist

Strategic

Specialist

Commodity

$

$

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

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

London Brokers:the changing landscape

Graham Clarke