LMA - Chief Risk Officers Committee

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Chief Risk Officers Committee

The Chief Risk Officers (CRO) Committee brings together senior risk leaders from across the Lloyd’s market to uphold and advance technical standards in risk management. As a key voice within the LMA, the committee plays a pivotal role in shaping best practices and regulatory dialogue on behalf of its members.

Its core objectives include:

Championing technical excellence in risk management area within LMA member firms and the wider Lloyd’s market.
Representing the interests of risk management practitioners in this area with the Corporation of Lloyd’s (“Lloyd’s”), UK and international regulatory authorities, and the wider insurance industry.
Responding to requests from risk management practitioners in this area, the LMA executive, policy committees and other committees for advice and recommendations on risk management issues or other issues as defined within these Terms of Reference and, where necessary, raising such issues with other organisations or individuals
Fostering clear and effective communication between the CRO Committee, LMA groups, Lloyd’s, IUA and key external stakeholders.

Through collaboration and leadership, the CRO Committee ensures that the Lloyd’s market remains resilient, informed and at the forefront of risk governance.

CRO Committee Term of Reference

Committees » Risk

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Committee

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Alex Koukoudis

Senior Executive, Finance and Risk

Committee secretary

Tom Rivers

Chair

Key issues covered

The CRO Committee provides an authoritative voice and informed perspective on key topics shaping the risk landscape across the Lloyd’s and wider London Market. Its areas of focus include:

Best practice leadership: Championing excellence in risk management to support the long-term strength of Lloyd’s and London market insurance businesses.

Risk management priorities: Addressing critical risk management issues affecting both Lloyd’s and London Market insurance firms.

Regulatory developments: Monitoring and interpreting evolving regulatory requirements specific to Chief Risk Officers.

Emerging and long-term risks: Offering a forum for structured dialogue on forward-looking risks impacting the market.

Committee insights

Replay – PRA SS5/25: Climate Scenario Analysis

Replay – Why AI Matters to Insurers

LMA & Control Risks: Geopolitical Risk Briefing – Key Themes for the Lloyd’s Market

Upcoming events

For events hosted online, joining instructions will be emailed to all registered attendees closer to the date of the event no later than 24 hours prior to commencement.

View more events

Emerging Legal Trends in Respect of Ultra Processed Foods

The LMA invites general liability underwriting and claims professionals to the Emerging Legal Trends in Respect of Ultra Processed Foods webinar.

Compliance Officers’ Group Meeting

Join the Compliance Officers' Group to hear directly from the FCA on its Phase 2 Simplification Consultation and gain practical insights from HFW on Incident and Material Third Party reporting requirements. This session will provide an opportunity to understand key regulatory developments, operational resilience expectations and the potential implications for firms operating in the Lloyd's market.

Quantum Cyber Risk Conference

The LMA invites cyber professionals to the Quantum Cyber Risk Conference, a focused, full-day event exploring how emerging quantum computing capabilities could disrupt today's cryptographic foundations, what organisations must do to become quantum-safe, and the implications for the cyber insurance industry.

Notable projects

The CRO Committee continues to lead and support initiatives that address critical and emerging risks within the Lloyd’s and London market. For 2025, its focus areas include:

Geopolitical risk analysis: Collaborating with the LMA Underwriting team to explore insurance-specific implications of global geopolitical developments through a series of targeted emerging risk events.
Artificial intelligence risk response: Concentrating on risks arising from client use of AI technologies, rather than underwriter use. Building on the LMA’s AI loss scenario work, this initiative is jointly driven by the CRO Committee and the CRO Next Gen group.
Risk culture development: Supporting the implementation and integration of the risk culture framework developed by the Next Gen group.