BIBA responds to LMBC

by Brian Turner

Story link: BIBA responds to LMBC

The British Insurance Brokers’ Association (BIBA) has confirmed it continues to represent all UK general insurance intermediaries including London Market brokers, following the proposal of a new association for brokers operating in the international wholesale and reinsurance markets.

It is understood that this new association will want to take over the administration of the London Market reform work, previously managed by BIBA’s London Market Brokers’ Committee, on behalf of the Angerstein Fund Limited.

BIBA continues to represent all UK general insurance intermediaries with key industry stakeholders and regulators both in the UK and Europe including consensus building in Europe through its membership of the European Federation of Insurance Intermediaries (BIPAR).

BIBA’s London Market Brokers’ Committee (LMBC) will now focus on UK wholesale and direct insurance. Members who trade in this market will continue to be represented by BIBA and will form the core of its London Market Brokers’ Committee (LMBC).

Eric Galbraith, BIBA Chief Executive, said: “It is business as usual for BIBA and all of its members.”