PRESS RELEASE
22 October 2024

LMA Board adopts new process for appointment of Chair

London, 22 October 2024: The Board of the Lloyd's Market Association (LMA) has agreed a timing and procedural change around the appointment of its new Chair. Following the recommendation of the LMA Nominations Committee, the new Chair of the LMA will now take up the position on 1 January 2026, following a transition period of one year. During this time, the future Chair will serve as Chair-Elect, alongside the existing Chair.

It is expected that this one-year handover period will be replicated in the appointment of future Chairs for the Association, giving time for a smooth handover. 
 
Sheila Cameron, CEO of the LMA, said: “I am delighted that Andrew Brooks and the Board have agreed that Andrew will remain as Chair for 2025, and also that Sean McGovern, CEO, UK & Lloyd’s, AXA XL, will serve as Chair-Elect during that time. Sean will remain Chair of the London Market Group (LMG) during 2025, and this will provide a useful synergy across the two Associations, helping us to build on our already closely aligned campaigning and market development goals.”  

Sean McGovern, Chair-Elect of the LMA and CEO, UK & Lloyd’s, AXA XL, said: “Our market is an exciting place to be with real future opportunities for growth through innovation. Both the LMA and the LMG play important roles in putting forward the value of our market to regulators, government, clients and partners, and I look forward to taking on the LMA Chair role in 2026 to continue to build the strong partnership between the LMA and Lloyd’s.”

Andrew Brooks, current Chair of the LMA, said: “I am looking forward to working closely with Sean during this year of transition. It has been a pleasure to support the LMA as Chair during an exciting growth period for our market. As we move forwards, I believe the LMA’s mission to promote and build the expertise and entrepreneurial risk culture of the London market will be in good hands under the new Chair, Sean McGovern.”

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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

Omnia Partners:
Victoria Sisson, Director | +44 794 129 4872 | Email: victoria.sisson@weareomniapartners.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 55 Lloyd's managing agencies, with a total market stamp capacity of approximately £52.6bn 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