Lloyd’s against a proliferation of Aon-Berkshire-type deals

Speaking at the AIRMIC conference in Brighton, UK today, Vincent Vandendael, director, international markets at Lloyd’s, said that while the corporation was happy with the Aon-Berkshire deal, “proliferation could be an issue”.

“Being a subscription market, such deals could pose a threat to smaller players” said Vandendael, adding that Lloyd’s would likely express its reservations over the emergence of other similar deals.

Commenting on whether the deal would prompt some players to consider consolidation in the face of such weighty competition, John Doyle, CEO of global commercial business at AIG said it would “likely act as a spur—scale matters.”