Ep141 Building a bigger welcome mat: Matthew Moore and Caroline Wagstaff of the LMG

Normally I have C-suite guests on the programme who are working
for companies with tens, hundreds and sometimes low thousands of
employees. They generally write between the tens, hundreds of
millions or single-digit billions in annual gross premiums. But
today’s guests are working on behalf of a marketplace that
directly employs 47,000 people and many more offshore. It writes
well over a hundred billion dollars in gross premiums and that is
a number set to rise sharply as the market continues to harden.
This is because together CEO Caroline Wagstaff, and Chairman
Matthew Moore, run the London Market Group, the LMG. The LMG is
the London Market’s trade body bringing together Lloyd’s and its
constituent underwriting businesses, the London company market
and the brokers to represent the whole London insurance and
reinsurance Market to the outside world and to lobby on its
behalf. London is facing a demographic squeeze where its stock of
over 50-year-olds exceeds its number of those under the age of
thirty. In this lively episode Matthew and Caroline recount the
nature of this problem and, more importantly, articulate the plan
they have formulated to address it. We also talk about the
prospects for the UK regulator to have to take the market’s
competitive position into consideration when making and
implementing new rules as key financial services reform
legislation makes its way through the UK Parliament. The agenda
includes the prospect of the UK seeking to develop a ‘red carpet’
welcome to rival that of more nimble and proactive jurisdictions
such as Bermuda and Singapore. The continuing iterations of
ongoing work to further the London Market brand under the London
Makes it Possible banner are another topic of discussion. Matthew
and Caroline are passionate and really engaging speakers and this
episode will give you a great sense of where the market’s
collective marketing and lobbying efforts are being channelled
both now and in coming years. LINKS We thank our naming sponsor
AdvantageGo: https://www.advantagego.com/ We also thank this
Episode’s advertising supporter Oxbow Partners
https://oxbowpartners.com