Lloyd's expands oversight and targets expense reduction

Lloyd's CEO Inga Beale has signalled that the Corporation
will shift its syndicate oversight activity to focus on all
elements of the combined ratio, rather than almost exclusively on
the loss ratio.
In a half-yearly circular sent to the market earlier today,
Beale said the move was designed to better protect the Central Fund
in the current "challenging environment".
However, at an individual class and aggregate level the
Corporation will continue to focus on the loss ratio and downside
risk...