Lloyd’s of London, the world’s oldest insurance market, is experiencing year-on-year growth of 100 percent in some of its Asian markets, where growing economies are fueling demand for cover from the region’s four billion people.
There are “incredible” opportunities in Asia as people add assets they want to protect, Inga Beale , the chief executive officer of Lloyd’s of London, said in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland. The company is also optimistic on the U.S. market, while question marks remain over Europe, she said.
Beale has extended the reach of Lloyd’s, which was founded in 1688, since taking over in 2014, opening branches in India and Beijing. She is also helping the insurer navigate Brexit, announcing in March that the company chose Brussels as its European Union hub following the U.K. vote to leave the bloc.
Here are some of her key comments from Friday’s interview:
- Cybersecurity is on the agenda of almost all CEOs and remains one of the key areas of risk.
- The U.K. government gave some confidence on where the Brexit negotiations are heading and better insight can be expected by the end of this quarter.
- The company is ensuring that it has a full solution ready for customers come January 2019 to cope with Brexit.
- Can expect to see consolidation in the insurance industry although there are a lot of startups “on the side” that are driving innovation.
Watch the full interview with Beale: Bloomberg Television Interview with Lloyd’s CEO Beale at World Economic Form