Lloyd’s chief executive John Neal’s speech at the 16th Singapore International Reinsurance Conference (SIRC) 2019 will hopefully inspire confidence after a relatively tumultuous period for the market.

Neal (pictured) said, ‘Asia Pacific is a pivotal part of Lloyd’s future growth strategy, and a region to which we are committed to for the long term.’

He was also bullish on underwriting: ‘If you take out the 2011 Thai flood losses, which were exceptional, [the] average combined ratio since 2010 has been 94 per cent.’

This potential, Neal argued, can only be reached by increasing efficiency through The Future at Lloyd’s blueprint changes being integrated with Lloyd’s Asia. 

He is advocating a global digital marketplace where risks can be placed, and claims paid, digitally; therefore the market will need people with skills such as data architecture, engineering and data science.

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