SAN DIEGO–Lloyd's Chairman Peter Levene met with California Gov. Arnold Schwarzenegger yesterday at the state capital in Sacramento and discussed global warming and other insurance industry topics, a Lloyd's spokesperson told National Underwriter.
Lord Levene, who left the San Diego Risk & Insurance Management Society conference to meet with Mr. Schwarzenegger, discussed a range of topics including climate change, the U.S. requirement that foreign reinsurers post collateral, and comparable economic development between East and West, the spokesperson said.
Lord Levene told NU on Sunday, "Lloyd's has business of more than $1 billion in California, which is more than our total business in France and Germany. So apart from the fact that the United States makes up 40 percent of our worldwide business, California on its own is a hugely important market, as indeed is Texas.
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