LMA - Finance Committee

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Finance Committee

The LMA Finance Committee serves as a key advisory body to the LMA Board, focusing on financial matters that affect member firms and the broader Lloyd’s market. Its remit encompasses all areas typically overseen by managing agent CFOs and Finance Directors, including external reporting, performance management, expense analysis, capital planning and investment oversight.

The committee plays a critical role in:

Reviewing and shaping financial proposals from Lloyd’s and regulatory bodies.
Producing market-wide guidance on emerging financial issues.
Acting on behalf of member firms to ensure financial policies reflect operational realities and strategic needs.

In addition to advising the LMA Board on developments in market performance, capital, expenses, Lloyd’s budgeting and member-help funds in trust arrangements, the Finance Committee also oversees several standing groups covering a range of issues relating to tax, actuarial, treasury and investments.

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Committee

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Paul Davenport

Finance and Risk Director

Committee secretary

Jessica Wong

Chair

James Pearson

Deputy Chair

Key issues covered

The LMA Finance Committee addresses a broad spectrum of financial matters that impact managing agents and the Lloyd’s market as a whole. Its current focus includes

Strategic financial oversight

Evaluating financial and capital management proposals to identify potential implications for LMA members and guide future readiness.

Policy and proposal review

Developing informed responses to financial issues and making strategic recommendations to the LMA Board and relevant bodies.

Regulatory consultation

Responding to consultations issued by Lloyd’s, the PRA and other regulatory authorities affecting financial reporting or tax.

Market trend monitoring

Tracking developments such as Solvency UK and assessing their operational and financial impact on member firms.

Lloyd’s collaboration

Engaging with Lloyd’s senior management on issues requiring expert financial insight from the managing agent community.

Taxation advisory support

Providing practitioner support to Lloyd’s Taxation Department in their discussions with HMRC and other overseas taxation authorities.

Actuarial impact assessment

Collaborating with the Committee of Actuaries in the Lloyd’s Market (CALM) to evaluate the financial implications of actuarial developments.

Stakeholder communication

Facilitating dialogue between managing agent finance teams and external stakeholders, including auditors and investment professionals.

Professional development

Coordinating the education and technical training needs of the finance community in the market through the LMA Academy and other learning providers.

Committee insights

Replay – LIC Quarterly Forum

Finance and Actuarial Quarterly Update

Replay – LMA Market Returns Forum

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

Empower: Women’s Mentoring

The LMA is delighted to partner with the Ethnic Women in Insurance Network for a fast-paced mentoring session where women will meet several mentor role models from different professions.

Inside the Spider: Outpacing Scattered Spider with Adversarial Pressure

In early 2025, the Scattered Spider threat group demonstrated just how effective modern identity-led adversaries have become. Fast-moving, patient and operationally mature, they exploited gaps between people, technology and process long before most organisations realised they were being targeted.

Emerging Professionals Claims Community Winter Quiz Night

The Emerging Professionals Claims Community (EPCC) invites you to its Winter Quiz Night.

Useful links

Notable projects

Over the next 12 months, the LMA Finance Committee is focused on delivering key initiatives to enhance financial efficiency and operational effectiveness across the Lloyd’s market. These include:

Market reporting simplification: Leading the design and coordination of streamlined reporting processes across statutory, solvency, and performance management frameworks to reduce complexity and improve consistency.
Premium processing vision: Shaping a long-term strategy for more efficient premium processing and collection in the evolving post-Blueprint Two environment.
Collateral mechanism for LIC reinsurance: Co-ordinating the implementation of a fit-for-purpose collateral mechanism to support the reinsurance contract from Lloyd’s Insurance Company (LIC) to syndicates.