Insurance brokers meet with Lloyds underwriters

Over a thousand Irish insurance brokers are set to descend on the Dublin convention centre for a meet and greet with Lloyds underwriters.

Some 200 representatives from the 324-year-old London-based insurance business will be in Dublin tomorrow to meet with Irish brokers.

The company — which insured the Titanic — is bringing the original 100-year-old ledger which includes the details of underwriting of the ill-fated vessel.

Lloyds country manager Eamon Egan said that Lloyds place a particular emphasis on face to face meeting between their underwriters and brokers and this was the reason for the get together.

“We encourage face to face meetings. In Lloyds you have to know the people that you are doing business with,” said Mr Egan.

As well as the original ledger including the Titanic’s entry, other attractions tomorrow will include Gold Cup winning horse Kicking King and some other yet to be released VIP guests.

Lloyds are hoping that with their worldwide spread that they can get involved in the underwriting of thoroughbred stock in China following from the recent trade deals signed between Coolemore stud and China.

Enterprise Ireland who are helping to organise tomorrow’s event said that the Irish insurance sector has a lot of export potential.

“The insurance sector is one which Enterprise Ireland believes holds particular potential for export growth in internationally traded services.

“The Lloyd’s Ireland Meet the Market Day isa strong opportunity for Enterprise Ireland and our client companies to meet senior representatives, buyers and decision-makers from the UK Insurance industry and present Ireland’s capabilities in this sector,” said the head of financial services with Enterprise Ireland, Leo McAdams.

Director of general services at the Irish Brokers Association, Brian McNelis, said that a larger choice of insurance underwriters would result in lower prices for consumers.

“The greater the choice insurance brokers have to place risks for Irish businesses and consumers at the right price and with the best products, the better it is for the Irish consumer and the economy in general.”

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