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London Grows As A Virtual Marketplace

London Grows As A Virtual MarketplaceAsk any two people what they understand by the term "London insurance market," and you are likely to receive two ...

By Marie-louise Rossi | Updated on September 02, 2002

London Grows As A Virtual Marketplace

Ask any two people what they understand by the term “London insurance market,” and you are likely to receive two different answers. Our industry has moved so rapidly in the way it does business that old distinctions and descriptions have become blurred or lost their original meaning; and so it is with the London market.

This may seem an academic observation, but its relevance goes well beyond simply settling a linguistic point. It goes to the heart of the dynamics of the London markethow companies here and elsewhere relate with their customers, their brokers, with each other and with international regulators. #9;

Ten or 15 years ago, the London market remained the well-defined geographical entity that it had been for decades and, indeed, centuries before. Business was conducted face-to-face by brokers and underwriters, and much of the supporting capital was located in the United Kingdom.

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