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London Insurance Brokers Push Gov’t For Real Reforms

May 27, 2022

By Humberto J. Rocha (May 27, 2022, 2:07 PM BST) — Insurance brokers in London have urged the government to enact stronger reforms to bolster the sector’s competitiveness after the U.K. left the European Union’s regulatory orbit in January 2020.

The London Market Group, a trade body, said on Thursday that a competitiveness goal should be made a primary objective — or at least be considered as important as financial stability — in the proposed legislation.

Caroline Wagstaff, the group’s chief executive, said that she is pleased government is including a competitiveness objective in the Financial Services and Markets Bill. But this should be more than just a box-ticking exercise for financial…

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