Press Room

Press releases

           

LMA advocates Basel III recognition of non-payment insurance by banks

04 Dec 19

  Banks’ use of non-payment insurance should be recognised in regulatory capital calculations, according to the LMA response to the EC consultation on Basel III reforms.
           
           

LMA welcomes Future at Lloyd's Blueprint

30 Sep 19

  The LMA has welcomed the launch of Blueprint One, which provides the latest strategic thinking from Lloyd’s around six ideas, first set out in their Prospectus, alongside a phased execution plan.
           
           

Lloyd’s market CEOs pledge action on unacceptable behaviour

24 Sep 19

  The LMA Board, which includes 16 chief executives and other senior market leaders from Lloyd’s managing agents, has pledged to work actively through a CEO reporting network to tackle sexual misconduct in the market.
           
           

Fundamental operational risks are top concerns for Lloyd’s CROs, LMA survey finds

18 Sep 19

  Pricing, cost reduction, change management, market modernisation, and competition are the top five risks facing Lloyd’s, according to Chief Risk Officers (CROs) within Lloyd’s managing agencies.
           
           

Lloyd’s Market Association appoints new LMA Academy Director and Chairman

10 Sep 19

  The LMA has announced the appointment of Fiona Temple as LMA Academy Director and Matthew Wilson, Group CEO at Brit Limited, as Chairman of the LMA Academy.
           
           

‘Talent & tech' key to delivering world-class claims service, report finds

11 Apr 19

  The LMA and PwC today published a report, following engagement with London market carriers, on the transformation of their claims departments.
           
           

LMA appoints directors to finance and operations roles

05 Mar 19

  The LMA has announced the appointment of Rob Myers as Operations Director and Paul Davenport as Finance Director.
           
           

Digitisation tops LMA priorities for 2019

27 Feb 19

  Sheila Cameron said that the pursuit of seamless digitisation, achieving sustained underwriting discipline and working with Lloyd’s to support their central strategies around distribution and international marketing, are LMA’s priorities for 2019.
           
           

LMA welcomes FCA’s market study findings

20 Feb 19

  LMA welcomes the findings of the FCA’s review into the wholesale insurance broker market and the fact that it is final, therefore minimising any ongoing regulatory burden on insurers.
           
           

Vision for a ‘seamless digital marketplace’

06 Feb 19

  Sheila Cameron has called for the creation of a digital marketplace in London where processing tasks are linked seamlessly from end to end, from proposal to claims, freeing market experts to concentrate on adding genuine value for customers.
           
           

LMA launches Gemini to tackle claims expert spend

29 Nov 18

  Gemini, a claims expert management solution and platform for Lloyd’s carriers, has been launched this week. LMA estimates claims expert spend in the Lloyd’s market to be in the region of £500 million a year.
           
           

LMA Finance Committee appoints Mark Allan as chairman

12 Nov 18

  The LMA's Finance Committee (FinComm), which leads on financial issues and requirements affecting Lloyd’s managing agents and syndicates, has appointed Mark Allan as chairman.
           
           

Satellite Imagery speeds Florence and Michael claims payments

15 Oct 18

  Lloyd’s managing agents have now begun assessing and paying claims to policyholders affected by hurricanes Florence and Michael, enabled and supported by the LMA’s satellite imagery and intelligence service.
           
           

LMA appoints Andrew Brooks as next Chairman

10 Oct 18

  Andrew Brooks, Chief Executive Officer of Ascot Underwriting Ltd., has been appointed the next Chairman of the Lloyd’s Market Association (LMA) with effect from 1 January 2019.
           
           

Reputation, enhancing delegated authority claims and automation ‘top priorities’, LMA survey reveals

08 Oct 18

  Brand reputation, automation and straight-through processing are the top three priorities of claims leaders in the Lloyd’s market, a survey commissioned by the LMA reveals.
           
           

New report highlights Lloyd’s advantages in InsurTech ‘arms race’

21 Sep 18

  A study, undertaken for the LMA, has praised the work of some Lloyd’s managing agents in developing new propositions and embracing new technology.
           
           

LMA & Lloyd’s publish policy documentation for Lloyd’s Brussels

19 Sep 18

  A new suite of policy documentation, to support the underwriting of risks from the European Economic Area by Lloyd’s Brussels, has been published. The new documents were prepared by the LMA’s wordings team, working closely with the Lloyd’s Brexit and
           
           

New professional body for global Marine Warranty Surveyors

30 Aug 18

  The Society of Offshore Marine Warranty Surveyors (SOMWS), a new professional body for individuals in this specialist field, is to launch on 18 September.
           
           

Sheila Cameron to be next CEO of Lloyd’s Market Association

28 Aug 18

  Sheila Cameron, currently Head of International Operations at Navigators Underwriting Limited, is to become the next CEO of the LMA following the announcement that David Gittings will be stepping down at the end of the year.
           
           

Lloyd’s agencies want ILS as a permanent re/insurance market fixture, LMA survey finds

14 Aug 18

  80% of Lloyd’s managing agents who responded would “like to see Insurance Linked Securities (ILS) products become a permanent fixture in the re/insurance market” according to a survey by the LMA.
           
           

LMA survey reveals modernisation, underwriting systems and Brexit as top 2018 priorities for COOs

25 Jun 18

  Market modernisation, underwriting systems upgrades, and Brexit preparations are the top three 2018 priorities of Lloyd’s market chief operating officers (COOs), a survey commissioned by the LMA reveals.
           
           

LMA Personal Accident Committee appoints Ranzetta and De Vido

21 Jun 18

  Stephen Ranzetta and Paul De Vido have been elected to the LMA's Personal Accident Committee, following a recent ballot at Lloyd’s.
           
           

LMA warns of $150 billion exposure gap in credit risk cover in its response to a PRA consultation on unfunded credit protection

16 May 18

  The LMA in a response today to the PRA’s consultation paper, warns of a risk to the UK financial services sector if the efficiency of credit insurance is reduced in helping banks to mitigate risks.
           
           

Joint Rig Committee launches oil and gas cyber risk report

09 May 18

  The JRC has published ‘Upstream Oil and Gas Cyber Risk – Insurance Technical Review’. It provides the background, threats and practical measures being implemented to reduce risk related to cyber threats in the upstream oil and gas industry.
           
           

Untangling the tech web

02 May 18

  The LMA Academy has hosted its inaugural emerging technology masterclass, ‘Blockchain Decoded’, the first in a series of events aimed to educate the Lloyd’s market on a range of technology-related topics.
           
           

LMA report finds widespread use of cyber exclusions in many classes

23 Apr 18

  LMA has undertaken a review of cyber risks & exposures model clauses. The report includes a comprehensive review of non-affirmative and affirmative coverage and commonly used exclusions.
           
           

LMA announces new Board members for 2018

03 Apr 18

  Following the recent nomination process, the four successful candidates for membership of the LMA Board are David Croom-Johnson (Aegis), Stephen Eccles (Argo), Richard Harries (Atrium) and Matthew Shaw (Chubb).
           
           

Froese elected to LMA Aviation Committee

27 Mar 18

  Dirk Froese, Head of Aviation at Beazley had been elected to the Lloyd's Market Association’s (LMA) Aviation Committee following a recent ballot at Lloyd’s.
           
           

LMA Marine Committee election

08 Mar 18

  Three new members have joined Lloyd's Market Association’s (LMA) Marine Committee following a recent ballot of Lloyd’s managing agents. The LMA Marine Committee provides leadership and direction to the Lloyd’s marine underwriting community.
           
           

Gittings puts claims modernisation among LMA’s top priorities for 2018

22 Feb 18

  David Gittings, CEO of the LMA told chief executives from across the Lloyd’s managing agency community that Brexit, electronic placing, claims modernisation, and further development of the LMA Academy in Lloyd’s overseas hubs are top of the LMA’s pri
           
           

LMA launches Claims Development Pathway

20 Feb 18

  The LMA has launched the Claims Development Pathway, an interactive training and development tool that will provide support to claims professionals in the Lloyd’s market, at every stage of their careers.
           
           

London market Single Claims Agreement Party Model goes live

01 Feb 18

  A transformational new model that will simplify how claims within the London market are handled is launched today in an effort to improve client service and streamline claims agreement across the London market.
           
           

Worldwide Property Business Panel appoints Dean Pitts as Chair

16 Jan 18

  Dean Pitts has been appointed Chairman of the LMA Worldwide Property Panel, which leads on a wide range of issues affecting Lloyd’s managing agents and syndicates on behalf of the Lloyd’s market.
           
           

Tony Rai appointed as Chair of LMA Claims Committee

11 Jan 18

  The LMA has appointed Tony Rai as Chair and Hannah Purves as Deputy Chair of the LMA Claims Committee (LMACC). Rai, Head of London Market Claims, Hiscox, replaces outgoing chair, Anthony Hobkinson. Purves is Claims Director at Markel.
           
           

LMA paper examines the increasing importance of CROs

10 Jan 18

  A joint report from LMA & Korn Ferry charts the rapid evolution of the CRO role since the financial crisis and its continued expansion in scope and importance, particularly for insurers.
           
           

LMA welcomes announcement of IDD delay

20 Dec 17

  The LMA has welcomed the announcement by the European Commission to propose a delay to implementation of the Insurance Distribution Directive (IDD) until 1 October 2018.
           
           

Data protection: new London Market Core Uses Information Notice published

05 Dec 17

  The LMA has published 'London Market: Core Uses Information Notice' to provide data subjects with a consistent explanation of how various insurance market participants process their personal data in respect of core activities that take place througho
           
           

LMA Aviation Committee welcomes new legislation for drones

28 Nov 17

  The LMA Aviation Committee has welcomed government proposals for drone legislation, which was set out in a statement on 26 November by the Aviation Minister, Baroness Sugg.
           
           

LMA tackles £1bn claims expert spend

13 Nov 17

  The LMA Claims Committee today announced that Advent Claims has been selected as a partner and vendor for its Claims Expert Management Hub for Lloyd’s carriers. The Lloyd’s market has spent over £1bn on third party experts in the past 24 months.
           
           

CRO survey reveals £20m missed opportunity

02 Nov 17

  Lloyd’s insurers spend about £20 million annually on capital-model governance and validation, but many approach the process as an exercise to satisfy regulators, rather than a value-adding proposition.
           
           

LMA/IUA initiative to optimise services with DXC Technology

31 Oct 17

  The LMA, working together with the IUA, has concluded a transaction with DXC Technology for the provision of bureau services that will save the Lloyd’s and London market £100 million over the next five years.
           
           

LMA backs Government reforms on Personal Injury Discount Rate

13 Oct 17

  The LMA has written to the Justice Committee in support of reforms set out in its 'Pre-legislative scrutiny: draft personal injury discount rate legislation inquiry'.
           
           

LMA commends swift Lloyd’s response to Harvey and Irma

21 Sep 17

  LMA chief executive commends swift Lloyd’s response to Hurricanes Harvey & Irma to pay claims. These are now being settled across the Caribbean & Florida and that effort continues unabated, with claims teams focusing intently on getting the job done.
           
           

LMA Working Party formed to examine implications of banking regulations

21 Aug 17

  An LMA working group has been created to examine regulatory issues affecting banking clients (and potentially insurers) and will report to the LMA’s Political Risks, Credit and Financial Contingencies Panel.
           
           

Claims Imagery & Intelligence Service gains industry backing

06 Jul 17

  The LMACC is to fund a satellite imagery and intelligence service for all Lloyd’s managing agents that will enable improvements to claims processes and exposure management both pre and post a natural catastrophe.
           
           

LMA announces Claims Expert Management Hub for Lloyd’s carriers

28 Jun 17

  The LMA Claims Committee has approved the establishment of a Claims Expert Management Hub for Lloyd’s carriers which will help to better assess the effectiveness of their use of claims experts whilst tracking and controlling spend against budgets.
           
           

LMA welcomes Queen’s Speech commitment to personal injury claims reform

21 Jun 17

  The LMA has welcomed proposals made in today’s Queen’s speech that legislation will be introduced to modernise the courts system and to help reduce motor insurance premiums.
           
           

LMA announces Members’ Agents Committee

02 Jun 17

  The LMA has announced the formation of a Members’ Agents Committee, which will represent the interests and priorities of providers and advisors of third party capital at Lloyd’s.
           
           

LMA Proposes new Discount Rate Process

11 May 17

  The LMA has called for major changes to the way the Personal Injury Discount Rate is set. The Discount Rate is currently set with reference to Index Linked Gilts, rather than the balanced investment portfolios widely used by claimants.
           
           

LMA and MGAA enter reciprocal arrangement to support delegated authority sector

27 Apr 17

  The LMA and the UK’s Managing General Agents’ Association (MGAA) have formalised a reciprocal working relationship as part of the LMA’s delegated authorities communications framework.
           
           

LMA urges Government rethink over ‘Vnuk’ judgement

12 Apr 17

  The LMA has submitted a detailed response to the Department for Transport’s (DfT)Technical Consultation on Motor Insurance.
           
           

General Data Protection Regulation - Insurance industry raises concerns

31 Mar 17

  The LMA has coordinated an industry response to the ICO on its guidance on how firms should obtain explicit consent from policyholders and beneficiaries of insurance cover for the processing of sensitive personal data.
           
           

LMA issues revised competition law guidance as IBER lapses

28 Mar 17

  The European Commission is allowing the Insurance Block Exemption Regulation (IBER) to lapse on 31 March. The LMA has updated its competition law guidance to reflect the new position.
           
           

London Market Single Claims Agreement set to become a reality

23 Mar 17

  The development of a Single Claims Agreement Model in the London Market, for non-complex claims within an agreed financial threshold, has taken a significant step forward after gaining approval from both the IUA and LMA Boards.
           
           

LMA announces result of 2017 Board election process

22 Mar 17

  The LMA has announced the five successful candidates for membership of its Board: Neil Maidment, Beazley; Paul Jardine, Catlin; Matthew Wilson, Brit; Tom Clementi, MS Amlin and; Julian Tighe, Asta.
           

Contact the Press Office


James Milne
Communications Director