London failing to fulfil its potential: BCG

The London insurance market must compete better with its rivals
if it is to avoid becoming a "profitable irrelevance",
according to Paul Clark, the BCG partner behind the updated London
Matters report.
The report shows that the City's commercial insurance
industry is losing out to fast-growing rival centres in Bermuda and
Singapore. The issue is particularly acute in reinsurance.
Asked if in the depths of a soft market it was inappropriate for
London-based carriers to be scaling back their ambit