Lloyds CEO Inga Beale to headline mutual reinsurance conference

Manchester, UK, 4 February 2016: The International Cooperative and Mutual Insurance Federation (ICMIF) today announced that multi award-winning Lloyd’s CEO Inga Beale will deliver the keynote address at its 23rd Meeting of Reinsurance Officials (MORO). This year’s event, entitled Reinsuring the future: Building resilience through innovation, takes place 6-8 June 2016 at the DoubleTree by Hilton Hotel - Tower of London, London (UK).

The biennial MORO event combines networking, world-class speaker presentations, panel and parallel sessions and the opportunity to write business. The MORO attracts the elite leaders of the global reinsurance industry and is the cooperative and mutual insurance sector’s only global dedicated reinsurance conference.

Keynote speaker Beale will share her unique perspective on the challenges facing the insurance industry and the future for Lloyd’s in a changing market with new global economics.

Earlier this year Beale spoke out about the potential for insurance to play a key role in enhancing global resilience to climate change during the Lloyd’s/Aldersgate Group co-hosted business conference.

The event, entitled Maintaining momentum beyond Paris: what next for international & UK climate policy? brought together business leaders, NGOs and policymakers to discuss the next steps for the UK after the COP21 global climate agreement.

Beale set out the impact that climate change is having on the industry: “Since the 1980s the number of registered weather-related loss events has tripled. Inflation-adjusted insurance losses from these events have increased from an annual average of around USD 10bn in the 1980s to around USD 50bn over the past decade.”

ICMIF CEO, Shaun Tarbuck commented: “We are thrilled to have Inga as our keynote speaker at this year’s MORO. As well as being an extremely strong speaker with a wealth of experience, she is also a fellow advocate for finding ways for insurers to help mitigate risks associated with climate change. ICMIF also addressed the COP21 Conference delegates and is now actively working with the United Nations and the wider insurance sector on a project to increase the volume of Smart-Risk investments in insurer’s portfolios.”

Registration is now open for ICMIF’s premier reinsurance event.

 

ENDS

For more information or to arrange interviews, please contact:

Liz Green, Senior Vice-President, External Relations, ICMIF, liz@icmif.org +44 7793 264 220

Alison Grant, Communications Manager, ICMIF alison@icmif.org +44 161 952 5078

About the mutual and cooperative insurance sector

  • The mutual sector holds 27% of global insurance market share by premium.
  • Premium growth of the insurance sector since 2007 is 28% vs 11% in industry
  • The sector’s assets of USD 8 trillion are 30% of global insurance assets and have grown by 29% since 2007
  • Employment in the sector has grown by 20% since 2007 and accounts for more than one million jobs

About ICMIF (see www.icmif.org)

  • ICMIF holds five years’ worth of exclusive data about the mutual sector
  • With its global headquarters in the United Kingdom and regional offices in Washington DC, USA; Tokyo, Japan and Brussels, Belgium, today ICMIF represents 230 values-based insurers in 72 countries with over USD 250 billion premium income.
  • ICMIF delivers unique networking opportunities, market and member intelligence and external relations services. It takes a strong lead in encouraging best practice amongst its member firms in key insurance issues, including; performance management, legal and governance, marketing, brand and reputation, reinsurance and social and environmental performance.
  • ICMIF is active in the microinsurance and Takaful sectors, with Takaful providing Shariah-compliant risk amelioration products to Islamic markets

Follow ICMIF on Twitter at @ICMIF_Web

About Lloyd’s:

Lloyd’s is the world’s only specialist insurance and reinsurance market, and offers a unique concentration of expertise and talent, backed by strong financial ratings and international licences. It is often the first to insure new, unusual or complex risks, providing innovative insurance solutions for local, cross-border and global risks. Its strength lies in the diversity and expertise of the brokers and managing agents working at Lloyd’s, supported by capital from across the world. In 2016, more than 90 syndicates are underwriting insurance and reinsurance at Lloyd’s, covering all lines of business from more than 200 countries and territories worldwide. Lloyd’s is regulated by the Prudential Regulatory Authority and the Financial Conduct Authority.