TRAVEL AGENCY CHIEF
MAY SUCCEED LORDPeter Middleton, chief executive of Britain's biggest travel agency, Thomas Cook, has emerged as the front runner in the contest to succeed Alan Lord as chief executive of the embattled Lloyd's of London insurance market.
A spokesman for Lloyd's refused to confirm reports that Mr. Middleton has already been chosen to succeed Mr. Lord at a recent meeting of the senior appointments committee of Lloyd's. But he did confirm that a formal announcement will be made shortly, probably Sept. 10.
For some months now, Lloyd's has retained the services of GKR & Associates, a firm of executive headhunters. Interviews for the post of chief executive began before Mr. Lord retired in June.
Like Mr. Lord, Peter Middleton has a civil service background. He worked at the British foreign office before joining Thomas Cook five years ago.
NAFTA SEEN BENEFITING
US INSURANCE BUSINESS
WASHINGTON - U.S. insurers can expect a dramatic increase in personal lines volume as a result of the recently signed North American Free Trade Agreement, said Gordon Cloney, president of the International Insurance Council.
The agreement will allow U.S. insurers to provide a wide range of insurance products which heretofore were available only on a limited basis in Mexico, he said.
The council, which represents insurers involved in international trade, has been looking forward to an agreement to liberalize the Mexican insurance industry for over five years, Mr. Cloney noted.
The American Insurance Association also expressed support of the Nafta treaty. The deal as negotiated represents a giant step forward in terms of liberalizing the Mexican insurance market, said Robert E. Vagley, association president.