PRESS RELEASE
21 January 2014

Gittings announces LMA vision for 2014

David Gittings, Chief Executive of the Lloyd’s Market Association (LMA), today told over 50 of the market’s most senior executives that the LMA was to focus its ongoing work in 2014 on three main areas. These are:

• International market development and, in particular, distribution
• Market modernisation initiatives, including the Central Services Refresh
• Improving the management of third party suppliers

Speaking at the LMA’s Annual CEO Lunch, Mr Gittings said: “We believe that we are able to speak with authority because we have the full support of the Lloyd’s Market. All managing and members agents are members and our committees and panels are supported by over 2,000 market practitioners – every agent has someone involved on at least one of our committees and most have many.

“In 2014 we aim to continue the work on international market development, very much including the aims of Vision 2025 and also including distribution. This involves working to develop market access, intelligence and support.”

Gittings added that the LMA will focus on market modernisation initiatives such as the Central Services Refresh, and others such as the Placing Utility and The Message Exchange, in order to make the market easier to do business with.

“The LMA has been involved in a wide range of activities. This has included contributing towards the choice of suppliers for the Volume Claim Services, seeing risk data capture go from concept to pilot, launching a new ECF website  and producing 17 responses to FCA and PRA consultations.

“In 2014 we aim to continue working on behalf of the market, which should ultimately result in a market at Lloyd's that is more easily accessible to brokers and clients” he added.
 
The LMA’s annual CEO lunch took place at 1pm today in the Adam Room of the Lloyd’s Building, London.

- ENDS -

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

Adrian Beeby
FWD PR
T 020 7623 2368
E adrian.beeby@fwdpr.co.uk

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.