Gittings sets out LMA’s 2017 agenda

David Gittings, CEO of the Lloyd’s Market Association (LMA) has told chief executives from across the Lloyd’s managing agency community that market modernisation, Brexit and supporting the LMG agenda are top of the LMA’s priorities for 2017. In particular, ensuring the success of the electronic placing platform (PPL) and integration of PPL with the Structured Data Capture Service within TOM (Target Operating Model) is of the highest priority.

Supporting managing agents’ overseas operations, renegotiating a long-term deal with CSC for the services it provides to the Lloyd’s market and promoting the LMA Academy (the LMA’s learning and development arm) are also high on the agenda.

Speaking today at the LMA’s annual CEO Lunch, Gittings went on to outline some other key activities taking place in 2017, including encouraging additional models for the OASIS catastrophe loss modelling platform and exploring long term funding models for TOM.

Gittings said: “Making sure that market modernisation, particularly the electronic placing platform (PPL), is a success is a top priority. PPL will be at the heart of how business is transacted in the future. It is important that it meets the market’s requirements.”

Turning to Brexit, Gittings said: “We are currently working with a carefully selected market group in support of Lloyd's. This is to determine the most operationally and cost efficient location for the market to maintain access to business in EU countries post-Brexit. The clear preference is for a stable regulatory environment that can accommodate the unique characteristics of the Lloyd's market.”

In closing, Gittings added that the LMA would continue to work hard to support all sectors of the market through its wide programme of ‘business as usual’ activities and thanked the CEOs and LMA Board for their support over the past year, noting that all managing and members’ agents at Lloyd’s remained members of the LMA.

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Notes to Editors

For further information please contact:
James Milne, Communications Manager
Lloyd’s Market Association
T 0207 327 8405
E james.milne@lmalloyds.com

David Gittings was speaking at the LMA’s annual CEO lunch in the Lloyd’s Building, which is attended by CEOs and senior management from all the LMA’s 62 member organisations. These include both Lloyd’s managing agents and members’ agents.

About the Lloyd’s Market Association (LMA)

Formed in 2001 and located in the heart of the Lloyd’s Building in the City of London, the Lloyd's Market Association represents the interests of the Lloyd’s underwriting community. All underwriting businesses at Lloyd’s are members, together managing gross premium income of around £30billion per annum. For more information visit: www.lmalloyds.com.