PRESS RELEASE
04 March 2025

LMA and IUA Announce Results of the Joint Power Generation Committee Election

London, 04 March 2025: The Lloyd’s Market Association (LMA) and International Underwriting Association (IUA) are pleased to announce the results of the recent election for the Joint Power Generation Committee (JPGC). Following the ballot, six individuals have been elected by committee members to serve as members of the committee for a three-year term.

The JPGC plays a vital role in shaping best practices and addressing key issues in the power generation insurance sector. The elected members bring a wealth of expertise and experience to the committee, ensuring effective representation for both Lloyd’s and company markets.

The elected members are:

  • Carl Bennett – CNA Hardy (LMA)
  • Peter Cranston – AIG (IUA)
  • Rebecca Friel – Travelers (LMA)
  • Mark Pettersen – Argenta (LMA)
  • Alex Priestley – Lancashire (LMA)
  • Lindsay Waller – MS Amlin (LMA)

In the year ahead, the JPGC will focus on the following key priorities:

  • Seeking to address the issue of obsolescence: The JPGC seeks to assess the impact of ageing infrastructure and outdated equipment on underwriting and risk management. This includes identifying potential coverage gaps, evaluating the insurability of older assets and exploring strategies to mitigate risks associated with obsolete technology in power generation.
  • Supporting the transition to renewable energy: As the market shifts towards sustainable energy solutions, the JPGC will work with stakeholders to better understand emerging risks and coverage needs. The committee hopes to continue to provide guidance on underwriting considerations for renewable energy projects, supply chain vulnerabilities and evolving regulatory requirements.
  • Monitoring and educating on emerging power sources, for example, fusion energy: With advancements in power generation, including fusion energy and other new technologies, the JPGC will track developments and assess their impact on insurance. The committee aims to provide insights to help underwriters navigate evolving risks and ensure the market is prepared for the future of power generation.

The LMA and IUA extend their gratitude to all those who participated in the election process and congratulates the new members on their appointment.

For further information or enquiries, please contact Panel Secretary, Dele Fajimolu at dele.fajimolu@lmalloyds.com or Katie Clark at katie.clark@lmalloyds.com.

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Notes to Editors

Media relations contacts

LMA:
Carole Porter, Head of Marketing and Communications | +44 20 3307 3947 | Email: carole.porter@lmalloyds.com

IUA:
Scott Farley, Director of Communications | +44 020 7617 4449 | Email: scott.farley@iua.co.uk

Omnia Partners:
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.com

About the Lloyd’s Market Association
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 55 Lloyd's managing agencies, with a total market stamp capacity of approximately £56.2bn in 2024, 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.

About the International Underwriting Association
The International Underwriting Association of London (IUA) is the representative body for companies in London providing international and wholesale insurance and reinsurance coverage. Its mission statement is to secure an optimal trading environment for London insurance companies.  The IUA’s London Company Market Statistics Report shows that overall premium income for the company market in 2023 was £48.432bn. Gross premium written in London totalled £42.995bn while a further £5.437bn was identified as written in other locations but overseen and managed by London operations. For more information visit: www.iua.co.uk.