Business Environment

Creating an environment for innovation

Progress

We are working with the UK Government and regulators to ensure that the business environment in the London Market provides the right incentives for growth and innovation.

In particular, we have been actively involved with the Treasury, exploring ways to bring Insurance Linked Security (ILS) business to the UK. Following a consultation document published by the Treasury in March 2015, in the Autumn statement in November 2016, the Chancellor of the Exchequer announced the publication of the draft ILS regulations for consultation. The LMG taskforce will play an active role in this consultation process, and it is anticipated that the ILS regulatory framework will be implemented in the first quarter of 2017.

In addition, we are working with the Treasury, Department for Exiting the EU and the Department for International Trade to support EU exit negotiations, to discuss the Brexit agenda.

More widely, we regularly meet with government, the parliamentary parties, civil servants and other bodies, such as the Corporation of London, the ABI and risk management associations, to ensure they better understand the scale of the London market and actively support its growth.

Latest Content

PPL goes live with facilities and platform improvements

Press Release here

LM TOM moves forward with go-live of the Market Business Glossary

For full press release see here

Progress on LM TOM with preferred bidder for DA SATS

Full Press Release here

Bringing London Market careers to life

Full Story of the Event here

THE LONDON MARKET GROUP IS USING SOCIAL MEDIA TO ATTRACT A-LEVEL STUDENTS

more

Government announces new ILS legislation

The government have announced the introduction of new ILS legislation for the London Insurance Market. Please click here for more

DFID announces creation of the London Centre for Global Disaster Protection

LMG response here

THE ECONOMIC SECRETARY TO HM TREASURY WRITES TO THE LMG REGARDING ILS LEGISLATION

Full Story here

LMG re-appoints Nicolas Aubert as Chair

Full story here

LMG Forum - London Matters 2017

The London Matters 2017 report will be launched 9th May register your interest here

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