The long lost days of the Grand Tour may well be back for some brokers what with the growing list of insurers setting up shop in various cities on the continent ahead of the UK’s withdrawal from the European Union.
In the past, the starting point for the Grand Tour was usually Dover. In the new version, this will be changed to St Pancras International, or for some, London City Airport.
First stop: Brussels. Here, brokers will be able to grab some pommes frites et mayonnaise avec une bière and meet entities such as Lloyd’s of London, QBE and MS Amlin, all of whom have already set up or are now looking to unveil offices in the city. Brussels boasts “a robust regulatory framework in a central European location”, Lloyd’s chief executive Inga Beale explained after the market announced it was setting up a new operation there.
From Brussels, it’s a sub-four hour train journey to Luxembourg City where brokers will then be able to meet up with underwriters from American International Group, Hiscox, FM Global, RSA, CNA Hardy and Liberty Mutual.
Next up, a short flight to Munich where, if brokers can time it right, can enjoy all that Oktoberfest has to offer, before catching up with their business partners at Markel International. The company has had an office in the city since 2012, but will be looking to add to its capabilities in the German city as it makes this operation the centre of its continental European operations.
As it stands, the final leg of the 21st Century Broking Grand Tour takes in a quick jaunt to Dublin where London market specialists Chaucer and Beazley have opened European operations. A few pints of Guinness and a couple of whiskey chasers to conclude a couple of deals, and then it’ll be time to head home.
In reality, obviously the broking houses won’t have to fork out for frequent flights (or perhaps even Interrail passes for some of the less flush firms…) to the continent, although it does seem a hassle that, in an ideal world, would not be required.
The precise consequences of the UK’s decision to leave the EU remain far from clear, but what appears increasingly likely is that London market insurers are going to have to work even harder to win, or even retain, business. Setting up outposts on the continent will help to stem any potential leaks.
Reactions 2017 North America Insurance and Reinsurance Conference and Awards
We are now getting ready for our upcoming Reactions North America Insurance and Reinsurance Conference and Awards Dinner. The two events are taking place on Thursday, September 28, with the conference ending mid-afternoon to ensure the venue is ready for our glamourous awards dinner in the evening.
Those of you who have attended both events in the past will realise this means something has changed, and indeed it has. Both the conference and the dinner are being held at a new downtown venue this year – Cipriani 25 Broadway.
We have already confirmed many of the speakers at our conference during the day, with Franz Josef Hahn, Peak Re’s chief executive; Keith Wolfe, president for Swiss Reinsurance America; Eric Cernak, Munich Re North America’s cyber and privacy risk practice leader; Paul Miskovich, global head of cyber insurance at Axis Insurance; and Sidley Austin partner Andrew Holland just some of the people who will be speaking at the conference.
The winners of this year’s awards will be revealed during a prestigious black tie dinner the same evening and at the same venue. Last year’s event was another great night to remember, and this year promises to be the same again.
For more information, please do not hesitate to get in touch – email@example.com
Anyone interested in attending either event, or sponsorship of either the conference or dinner, should contact firstname.lastname@example.org