Electronic trading system PPL, first introduced in 2016, is seeing an uptick in use within May. Outgoing Lloyd's market. The system is now being used on 16% of policies where it's available. According to the London Market Group, almost 3,000 policies were written on the system in June this year, double the volume for the same month in 2017 and an increase of nearly 50% from the Lloyd's of London CEO Inga Beale emphasised the need for the industry to switch to electronic trading in February, noting the use of PPL would eventually become mandatory.
Electronic trading system PPL, first introduced in 2016, is seeing an uptick in use within the Lloyd's of London market. The system is now being used on 16% of policies where it's available. According to the London Market Group, almost 3,000 policies were written on the system in June this year, double the volume for the same month in 2017 and an increase of nearly 50% from May. Outgoing Lloyd's CEO Inga Beale emphasised the need for the industry to switch to electronic trading in February, noting the use of PPL would eventually become mandatory.