The Finance Committee (FinCom) takes the lead on behalf of the LMA Board in considering financial issues and requirements as they affect LMA members and the market in general, and to provide advice and feedback to the Board, member firms, and the Corporation. FinCom have a number of sub-committees and working groups covering a range of issues including those relating to tax, actuarial and investments.
Apart from the range of ad-hoc issues that arise during the course of the year FinCom’s key activities are:
- considering the key financial and capital proposals and any potential issues there on that may impact on LMA member firms
- developing and responding to proposals on financial issues and making appropriate recommendations to the LMA Board and other bodies
- monitoring current key topics such as Solvency II, including their likely impact on member firms
- liaising with Lloyd’s senior management / staff on issues requiring practitioner input
- providing practitioner support to Lloyd’s Taxation Department in their discussions with HMRC, and with other overseas taxation authorities
- considering the impact of actuarial issues on member firms via the actuaries committee (CALM)
- providing a means of communication between finance professionals from managing agents with other interested parties including those from the auditing and investment fields.
Members of the committee will typically be finance directors, senior finance managers, or managing directors with a finance background within LMA member firms - Lloyd’s Head of Market Finance is also invited to attend.
Other Corporation staff, and/or representatives from external bodies are also invited to attend from time to time as appropriate.
Current Finance Committee members
LMA/Lloyd's Tax Group members