Prettejohn talks of share over profit

Nick Prettejohn, chief executive of Lloyd's, said in his speech that insurers must create shareholde...

Nick Prettejohn, chief executive of Lloyd's, said in his speech that insurers must create shareholder value.

Prettejohn said the insurance industry must create an adequate return on capital, adding: "In the end, generating sustainable positive cash flow and earning a return on capital that exceeds the cost of capital is what matters."

Later, Prettejohn expressed his belief that market share is less important than profit. He accepted that this might mean some risks would not be covered. "There is

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