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Nov 17, 2020

Bruce Carnegie-Brown interview with Mail on Sunday

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In last weekend's Mail on Sunday, Bruce Carnegie-Brown, intimated that a consultation of the market due next year about the Lloyd's Building and the Underwriting Room could lead to a downsizing of the Underwriting Room.

The full interview is available here.

Bruce said in the Mail on Sunday interview that Lloyd's "started as a coffee shop and it might end up looking more like a coffee shop again." "The need for underwriting desks may be less important than just creating the right environment for people to meet and discuss different kinds of insurance risks." Bruce told The Mail on Sunday.

In a vision of how a re-purposed Room would look, Bruce commented "In a mixed environment, some people will be in the room having that conversation and some people will be on the wall connected digitally."

Bruce said: "The question would be, as you think about the future of Lloyd's and the digitalisation of the marketplace... what physical services do you think you'll need going into the future? And how should Lloyd's respond to that?"

We await further news of the 2021 consultation.