In Vision 2025 – Structural Revolution, Macquarie said pressure for change is being driven by deteriorating underwriting performance, high expenses costs, and the decline of Lloyd’s outperformance against peers. Philip Kett, insurance analyst, Macquarie Research, told Post: “Lloyd’s is no longer outperforming its peers in the way that it used to.” Kett said the primary driver of this drop has been deteriorating underwriting. “Most lines of business are now under pressure as reserve release
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