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Regulation - London Market - Magnus calls for London wake-up.
(From Reinsurance)
London is in danger of being left behind by other (re)insurance centres, according to Sir Laurie Magnus, vice-chairman of Lexicon Partners.
Speaking exclusively to Reinsurance Sir Laurie said that new management discipline needed to be seen if London is to remain a major power in the global (re)insurance market.
He pointed to the fact that many broking deals are still reliant on paper files and dockets instead of on more efficient electronic methods. He commented: "There is still a huge tendency within the London market ...
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