London's Leading Underwriters (LLU) 2013 is out today. Mark Pepper of Ascot tops the list this year, followed by Clive Washbourn of Beazley and Dominick Hoare of Watkins.
The methodolology for the 2013 study has been adapted to include the views of underwriters and brokers, an approach which gives the study a 'market balance' and a more rounded picture of performance.
The study is based on the views of over 500 broker and 200 leading underwriter ratings.
2013 has been a fairly tumultous year for the London Market, not in terms of catastrophes but competition, and it's anybody's guess what the market will look like in five years time. We do know though that underwriting teams' performance will be critical to future success and we are increasingly seeing insurers focusing on making sure that their teams are out there building quality new business rather than 'sitting at the box'. Strong relationships, hunger and ambition will be essential... but all that requires a significant culture shift from a market whose comfort zone is to wait for passing trade; whether all businesses will be able to adapt to this new world remains to be seen.
Fortunately, LLU 2013 shows that the London Market has many individuals and teams - and it is all about teams - who have the right stuff. This means strong relationship and excellent communication skills fusing with technical capability and innovative approaches combining to provide strong, consistent service to clients and brokers alike. This is the real strength of the London Market and a bulwark against commoditisation.
As we go through the next month we will be publishing more on LLU 2013 and the fascinating insights it provides into the leading professionals in this previously little known part of the Financial Services market.
Click on the link below to see the unique infographic we produced for the launch of the study.