Sax Riley, chairman of Lloyd’s of London, will today hit back at criticism of his reform programme in a speech to the annual conferenceof the Association of Lloyd’s Members.
Riley will describe the disapproval of his plans, and the decision to vote against them by some members, as “bizarre”. He will tell names that voting against the package will only harm Lloyd’s and themselves.
Riley’s package calls for the insurance market to publish itsfinancial accounts annually rather than every three years, and to set upa franchise board that would be given greater powers over the activities of the insurance underwriters.
The Times 06/09/02 page 27, page 28 (Need to Know)
