XL chief: Insurance faces a battle to be relevant
Mike McGavick said the industry is being overlooked by some of the biggest firms and sectors.
The insurance industry faces a growing challenge to make itself relevant to the needs of the very biggest businesses and industries according to Mike McGavick, chief executive of XL Group.
He told an audience at The Old Library in Lloyd's of London that there are forces that could push insurance towards greater relevance or less relevance.
McGavick said Lloyd's will continue to play an important role but the question is whether it will be playing in a shrinking or growing sector.
Biggest
He added
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