Mark Dwelle (of RBC Capital) in March 29’s Insurance Observations, provided a detailed run down of Lloyd’s 2009 results. I thought his comment that ‘…in some ways, we looked at last year as a break-out year for Lloyd’s as we think the syndicates clearly capitalized on writing complex, large-account businesses that had formerly been written by AIG. … showing to us that Lloyd’s really is the place to be if you want a look at some of the best specialty business in the world’ was particularly insightful.
I well remember reading and hearing a decade ago that Lloyd’s might not be that important in the future world of insurance.
Perhaps its time for those thoughts to be laid to rest.