Outgoing chairman says there is much work left to do

Stephen Matanle, Global Placement Leader at Marsh and chairman of the London Market Insurance Brokers’ Committee, is to become chairman of the London Market Reform Group (MRG).

He will take over from Dane Douetil, chief executive officer of Brit Insurance, at the end of the year.

Making the announcement at his Insurance Institute of London speech on market reform, Mr Douetil said: “When I accepted the role of MRG chairman I said I was picking up the baton of reform on behalf of the market as a whole.

“This programme is a team effort to deliver the necessary change to make London the market of choice for global insurance and it is important it does not become viewed as a personal crusade. ... I believe the time is right to pass on the baton. "

He added: “The MRG has established a track record of successful change, but there is still much to do. With such a senior market figure at the helm I am confident the market shall continue to maintain and build the momentum required to deliver the MRG’s vision.”

Steve Matanle said: “I am looking forward to working with other members to bring about the necessary reform that ensures London remains the world’s leading insurance market.

“As the key forum driving the collaboration needed to get this done, MRG has an opportunity over the next two to three years to shape London’s future role in the global insurance market. I am excited to be a part of that.”

Richard Ward, Chief Executive of Lloyd’s said: “I would like to thank Dane for his contribution to the reform effort during his time as chair of MRG.

"Significant progress has been made over the last two years to improve the efficiency of the market and I am pleased that Steve has agreed to continue this work. Steve's background as a broker will also prove essential in continuing to galvanise support from that sector going forward.”

Stephen Riley, Chairman of the IUA concluded: “With the support of the company market, the [MRG] has a vital role to play in delivering our vision of London as the market of choice.”

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