Although Lloyd's underwriters are no longer the buccaneering entrepreneurs of old, Clive Washbourn still has a significant financial stake in the business he writes, with success directly affecting his earnings.
In addition to his salary, there are performance-related bonuses and share options and, like his senior colleagues at Beazley, he also directly invests in underwriting through a stake in a corporate "name" - Beazley Underwriting - that provides part of the risk capital.
The
