Gittings outlines LMA’s priorities for 2016
David Gittings, CEO of the Lloyd’s Market Association (LMA) has told chief executives from across the Lloyd’s managing agency community that the main priority for 2016 is to deliver tangible benefits to its members from a range of existing initiatives, most particularly electronic placing support and the OASIS catastrophe loss modelling platform.
Reviewing the Lloyd’s business planning timetable, the regulatory environment and developing 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 projects taking place in 2016, including updating wordings affected by the Insurance Act, a market-wide focus on cyber exposures and supporting the central services refresh.
Gittings said: “We are extremely grateful to the 2,000 market practitioners who continue to contribute to our work through our various committees and panels. With their continued support in 2016, we will ensure that many of these initiatives cross the finishing line.”
Turning to market modernisation, Gittings said: “The LMG’s London Market Target Operating Model (TOM) presents us with a once-in-a-generation opportunity to improve the competitiveness of our market. Our members have been supportive of this initiative, but will need to be confident that the right modernisation projects are being prioritised and that the market’s money is being used effectively.”
In closing, Gittings thanked Rupert Atkin (Talbot) for his excellent chairmanship of the LMA over the past four years, and welcomed Neil Maidment (Beazley) as the new chairman.
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Notes to Editors
For further information please contact:
James Milne, Communications Manager
Lloyd’s Market Association
T 0207 327 8405
T 020 7623 2368
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 £26 billion per annum.