PRESS RELEASE
05 April 2023

LMA announces membership of Chief Underwriting Officer Committee

London, 05 April 2023: The Lloyd’s Market Association (LMA) today announced the membership of its newly formed Chief Underwriting Officer Committee (CUOC) . Following significant interest from managing agents, the LMA CUOC will comprise of 15 members from a broad cross-section of the Lloyd’s underwriting market.

The members of the CUOC have been selected by the CUOC Nominations Committee to be representative of the managing agent community as well as to bring diverse skill, territorial experience and business line expertise. Members will be instrumental in engaging strategically with Lloyd’s and the wider marketplace. 

The CUOC will be chaired by Nicola Stacey, Chief Underwriting Officer at Chaucer. Nicola has more than 30 years’ experience in the reinsurance and insurance market having previously worked in senior underwriting leadership roles at Swiss Re and GE Insurance Solutions. 

Patrick Davison, Underwriting Director of the LMA said: “I am very pleased indeed that we have been able to select such a strong group of members to the new LMA Chief Underwriting Officer Committee. The members are a fantastic group of experts who have demonstrable and valuable experience across a broad sweep of the insurance industry. The breadth of knowledge will prove incredibly useful as we seek to guide the market through upcoming changes and opportunities. 

“I would like to put on the record my thanks to all those who put themselves forward for this committee and I am enthused by the interest shown. I look forward to working closely with Nicola and the rest of the committee to focus on issues such as market digitalisation, the evolution of Lloyd’s in a rapidly changing and competitive environment and the incorporation of ESG into underwriting practices.”

Nicola Stacey, CUO at Chaucer and Chair of the LMA CUOC said: “The creation of this committee shows a real demand for guidance and expertise as the Lloyd’s marketplace builds for success into the future. I’m proud to be chairing a committee of such diverse and rich talent who represent key players across our market

“The Lloyd’s market is making great strides towards becoming a more sustainable place of business, as well as adapting to digitisation and the changing nature of risk. As a committee, we are well placed to work closely with Lloyd’s to provide guidance and insight into how underwriters across the market can be best supported in these changing times.”

Notes to Editors

Media relations contacts

LMA:
Fiona Temple, Communications Director| +44 020 3307 3922  |  Email: Fiona.Temple@LMALloyds.com
H/Advisors Cicero:
Kuba Stawiski  | +44 (0)785 603 1906 | Email lma@cicero-group.com

About the Lloyd’s Market Association (LMA)

The Lloyd's Market Association (LMA) exists at the very heart of Lloyd's, a world-leading global marketplace for complex risk where solutions to challenges are delivered every day. All 51 Lloyd's managing agencies, with a total market stamp capacity of approximately £48bn in 2023, and all Lloyd's members' agents, are members of the LMA.

We represent our members' interests to organisations including governments, regulators, and the market's central supporting body, the Corporation of Lloyd's. We provide professional and technical expertise in areas ranging from model policy wordings to the implementation of innovative technologies. We connect with our members to identify and resolve issues facing the market, and work in partnership with Lloyd's and the other market associations to influence initiatives and outcomes. We operate the market's most comprehensive technical education service, the LMA Academy. For more information visit: www.lmalloyds.com