Charting New Territory: Positioning the UK (Lloyd's) in a changing global reinsurance landscape

尽管劳合社作为买卖再保险的主要金融中心的成功历史由来已久，但伦敦劳合社和更广泛的英国市场现在面临着全球格局变化带来的重大挑战。这些变化包括信息分发方面的技术进步、监管对透明资本配置的要求、来自其他成熟市场的日益激烈的竞争、保险和再保险市场的整合以及新兴市场日益增长的全球需求(和相关损失)。因此，许多英国公司不仅在伦敦市场进入全球再保险业务，还在其他市场建立子公司，寻求加深对新兴市场的了解，并努力与正在改变再保险购买方式的新兴全球分支机构发展关系。然而，他们几乎没有框架或基于证据的见解来告知他们全球变化的范围或其对自己商业模式的潜在影响。该项目的主要目标是与英国保险公司、再保险公司和经纪商共同制定和实施一项知识交流计划，以支持他们发展更大的竞争力。第二个目标是确保总部位于英国的参与者在更广泛的全球再保险市场领导对这些重要话题的讨论。我们将通过利用Jarzabkowski教授及其研究团队自2009年8月以来与行业合作伙伴保险智力资本倡议(IICI)合作收集的丰富的定性数据集来实现这些目标，从再保险卖方(再保险公司)及其中介机构(经纪公司)的角度分析全球再保险业的再保险交易实践。2011年，在国际保险研究所的支持下，这项研究扩大到再保险购买者(保险公司)。这导致了一个独特的全球数据集，包括21家再保险公司和3家经纪公司的414次再保险交易访谈和738次再保险交易观察(在劳合社、百慕大和欧洲大陆的主要再保险安置市场)，以及17个国家的33家再保险公司，涵盖一系列成熟市场(如美国、澳大利亚、西欧和北欧)和新兴市场(如中东欧、俄罗斯和印度)。我们将使用整个全球数据集，为再保险公司、经纪商和分支机构开发具体的细分和诊断分析，让英国行业参与者了解自己在全球行业的地位。然后，这些分析将通过一系列十个大师班被转化为英国行业可获得的知识输出，其中七个是为关键行业参与者之一-保险公司、再保险公司和经纪人-量身定做的，三个就整个行业关注的关键主题提供综合观点。每个大师班将包括i)10-12页的实践案例文件和具体框架；ii)互动行业研讨会，将材料协作开发为实用和应用资源；iii)为行业参与者量身定做练习；以及iv)20分钟的播客，带有案例和练习的幻灯片。然后，这些资源将发布在一个专门的网站上，使更广泛的全球受众可以自由和永久地访问这些资源，并促进该行业的培训和发展。综上所述，这些大师班组成了一个综合系列，解决了英国(再)保险业在当前全球环境中面临的一些主要挑战，并将为从业者配备一套工具和资源来应对这些挑战。影响摘要中概述的传播它们的互动格式将鼓励对这些关键问题的思考和辩论，并使英国行业从业者能够站在全球行业变化的前沿。

Despite a long history of success as a main financial centre for buying and selling reinsurance, Lloyd's of London and the UK market more broadly, now faces major challenges arising from changes in the global landscape. These changes include technological advances in information distribution, regulatory demands for transparent capital allocation, growing competition from other mature markets, consolidation in the insurance and reinsurance markets and increasing global demand (and associated losses) from emerging markets. As a result, many UK companies are not only accessing global reinsurance business in the London market but also establishing subsidiaries in other markets, seeking to develop their understanding of emerging markets, and striving to develop relationships with an emerging group of global cedents that are changing the way that reinsurance is bought. However, they have few frameworks or evidence-based insights to inform them about the scope of global change or its potential implications for their own business models. The primary aim of this project is to co-produce and implement a knowledge exchange programme with UK insurers, reinsurers and brokers that will support them in developing greater competitiveness. A secondary aim is to ensure that UK-based players lead discussion of these important topics in the wider global reinsurance market. We will meet these aims by exploiting a rich qualitative data set that has been collected by Professor Jarzabkowski and her research team since August 2009, in collaboration with an industry partner, the Insurance Intellectual Capital Initiative (IICI), on the reinsurance trading practices of the global reinsurance industry from the perspective of reinsurance sellers (reinsurance firms) and their intermediaries (broker firms). In 2011, this study was expanded, with support from the IICI, to also cover reinsurance buyers (insurance firms). This has resulted in a unique global data set of 414 interviews and 738 observations of reinsurance trading in 21 reinsurers and 3 broking firms in the main reinsurance placement markets of Lloyd's, Bermuda and Continental Europe), and 33 cedents in 17 countries, covering a range of mature (e.g. USA, Australia, Western and Northern Europe) and emerging markets (e.g. Central and Eastern Europe, Russia and India). We will use the entire global data set to develop specific segmentation and diagnostic analyses for reinsurers, brokers and cedents that will inform UK industry participants about their own positions in the global industry. These analyses will then be transformed into accessible knowledge outputs for the UK industry through a series of ten Masterclasses, of which seven are tailored to one of the key industry participants - insurers, reinsurers and brokers - and three offer integrative perspectives on key topics of concern for the whole industry.Each Masterclass will comprise i) a practical case paper of 10-12 pages with specific frameworks; ii) an interactive industry workshop to develop the material collaboratively into a practical and applied resource; iii) tailored exercises for industry participants; and iv) a 20-minute podcast with slides to accompany the case and exercises. These resources will then be published on a dedicated website to make them freely and permanently accessible to broader, global audiences and foster training and development in the industry. Taken together, these Masterclasses form an integrated series that addresses a number of the main challenges facing the UK (re)insurance industry in the current global environment and will equip practitioners with a suite of tools and resources to tackle these challenges. The interactive format for their dissemination, outlined in the Impact Summary, will encourage reflection and debate on these key issues and enable UK industry practitioners to stay at the forefront of changes in the global industry.