Lloyd's looking to centralise more functions: Beale

The Corporation of Lloyd's is considering ways it can run more
functions centrally in a bid to reduce the market's
above-average 41 percent expense ratio, according to CEO Inga
Beale.
Speaking to The Insurance Insider at
the Monte Carlo Rendez-Vous, Beale noted that the latest initiative
follows last year's decision to reduce subscription fees by 10
percent and is part of a drive by the Corporation to make its
operating model more efficient.
"We have looked at all the services...