For the underwriters and brokers on the trading floors surrounding the vast atrium at the centre of the Lloyd’s of London insurance market, business is good.
The centuries-old institution — a marketplace of more than 50 insurers and hundreds of brokers selling policies covering everything from cyber attacks to hurricanes — has shaken off Covid disruption and a run of costly years for natural catastrophes to deliver its best underwriting performance since 2007.
Efforts by management to help some of the market’s underperforming insurers improve have contributed, alongside rising insurance prices. September’s announcement of former senior Treasury official Sir Charles Roxburgh as its next chair was well received.
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