Risk and Innovation

Peter Levene, chairman of Lloyd’s of London, the world’s biggest insurance market, will discuss managing emerging risks and pursuing innovation in the face of increasing intervention by regulators, in “Risk and Innovation: A Global Perspective” Thursday, Dec. 2, at Cal State Fullerton.

The public talk is sponsored by the university’s Mihaylo College of Business and Economics, the Center for Insurance Studies and the Insurance Industry Charitable Foundation. It is the inaugural address of the Mihaylo Distinguished Speaker Series. Levene will speak at 1 p.m. in Room 1502 in Mihaylo Hall. There is no charge for the event.

“Risk-taking lies at the heart of business operations, and it can also lead to problems if not handled properly,” said Anil Puri, dean of Mihaylo College of Business and Economics. “The discussion of the connection between risk and innovation couldn’t have come at a better time or from a better person than Lord Levene who represents the ultimate risk-taking institution in the world, Lloyd’s.”

Levene was appointed chairman of Lloyd’s in November 2002 and as chairman, serves on the Council of Lloyd’s and the Franchise Board. Prior to joining Lloyd’s, he had advised on efficiency and effectiveness to former Prime Minister Margaret Thatcher, the secretary of state for the environment, the president of the Board of Trade and the Chancellor of the Exchequer.

He started his career in the defense industry with United Scientific Holdings and has served as personal adviser in Britain’s Ministry of Defence, as well as permanent secretary in the role of chief of defense procurement, a position that he held for six years.

Levene currently holds four directorships with General Dynamics UK Limited, where he is chairman, and the boards of Haymarket Group Ltd, Total SA and China Construction Bank. He also is chairman of International Financial Services London (formerly British Invisibles) and a member of the House of Lords Select Committee for Economic Affairs.

For more information, call the CSUF Center for Insurance Studies, at 657-278-3679.

Media Contact:

 Pamela McLaren, Public Affairs, 657-278-4852 or pmclaren@fullerton.edu