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Even after absorbing at least its fair share of international catastrophe losses, the London market has come out well positioned in terms of risk appetite, experts contend.

“The Lloyd’s market continues to look robust,” says Hugo Crawley, chairman of BMS Group broking board in London.

Overall, “It’s shaping up to be a good time for London,” agrees John Eltham, head of North American brokerage business for London-based Miller Insurance Services Ltd.

But the significant cat payouts—“which have impacted quite a number of the syndicates,” Crawley observes—have led to reinsurers trying to recoup their losses from a worldwide reinsurance client base that is also reeling from the effects of a global slowdown.

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