INVEST COST SAVINGS IN TALENT, SAYS LIIBA CHAIR

Efficiencies resulting from the London Market's modernisation drive should free up capital to invest in talent and entrepreneurialism, the new chair of the London & International Insurance Brokers' Association (Liiba) has told Insurance Day. Andrew Agnew, who is also managing director of specialty at Arthur J. Gallagher (AJG), said that the “depth expertise” is the hallmark of the London market. But he told the newspaper that he is concerned that some market dynamics are actually stifling this trait as opposed to harbouring it. Commenting on the Placing Platform Limited (PPL) initiative, he said: “[Modernisation] is hopefully going to go a long way to offsetting some of the costs associated with doing business in London.”