Asia seeks local talent to drive future growth
2 May 2008
The Managing Director of Lloyd’s Asia has told a conference of the region’s leading insurers and regulators that the market is determined to develop local talent in order to build on its success.
Simon Wilson delivered an address to the Asian Insurance Summit 2008, held at the Intercontinental Hotel in Singapore, where he explained the success of the market’s Asian hub and its plans for the year ahead.
He said that after a period of significant growth, 2008 would see moves to consolidate the market’s position and to further enhance the products and services that it could offer the region’s businesses.
“We have been very pleased with the growth in terms of syndicate numbers and the recognition we have had from the business community,” Wilson said. “But we now want to ensure we are delivering the control and expertise that the market has a reputation for.”
Wilson added that while syndicates were now established, further growth in staff numbers would now be primarily sought from the local talent pool.
“We are working very closely to support the Chartered Insurance Institute in Singapore to develop and promote professional qualifications,” he explained.
Wilson and a number of senior underwriters will travel to Malaysia on 8 May to meet with business and insurance leaders in an effort to raise the awareness of the Asian hub operation and what it can offer.
“The fact is that while the Lloyd’s brand is strong, there is still some lack of knowledge about how we work and that can sometimes trigger confusion,” he said. “We are holding the event so we can educate the market on how we are structured and how we operate, and then the underwriters can explain their business lines and their products.
“It is certainly something we will be happy to do elsewhere if the underwriters feel there is a need and it will benefit our ability to meet the needs of the region’s businesses.”
Last updated on 02 May 2008
