LMA - Third Party Capital Committee and Members' Agents Committee

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Third Party Capital Committee and Members’ Agents Committee

The Third Party Capital Committee (TPCC) serves as a central advisory body to both the Members’ Agents Committee and the Third Party Capital Working Group. Its core function is to support strategic dialogue, provide cohesive feedback and coordinate unified responses to formal consultations affecting third-party capital in the Lloyd’s market.

The TPCC acts as a single point of coordination through which all stakeholders, including third-party capital providers, Lloyd’s, members’ agents, the Association of Lloyd’s Members (ALM), High Premium Group (HPG), and their clients, can raise issues or share views on matters impacting external capital. Individual Lloyd’s members should direct concerns to their TPCC representative, who will determine the appropriate route for escalation, including referral to the Members’ Agents Committee or Working Group for resolution.

Reporting to the LMA Board, the TPCC contributes valuable insights on capital-related issues. When relevant, the committee’s Chair may be invited by the LMA CEO to present perspectives directly to the Board.

Committees » Finance

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Paul Davenport

Finance and Risk Director

Committee secretary

Key issues covered

The Third Party Capital Committee and Members’ Agents Committee, supported by a dedicated Working Group, focus on matters impacting external (non-aligned) capital providers in the Lloyd’s market. Together, they address a broad spectrum of strategic and operational issues, including:

Capital setting processes
Capacity auctions
Funds at Lloyd’s management
Strategic asset allocation rules, changes and application
Byelaw and regulatory changes affecting members
Membership and underwriting criteria
Issues affecting capital attraction to Lloyd’s
Alternative capital routes

Committee insights

Replay – LMA Market Returns Forum

CFO Quarterly Update

Lloyd’s Market Association launches Treasury & Investments Group to drive innovation and collaboration across 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 Litigation Forum

The LMA invites you to an Emerging Litigation Forum concentrating on PFAS cases.

Understanding Hurricane Risk in a Changing Climate: The Hurricane Damage Index

Join us for a virtual presentation by Professor Ralf Toumi, co-author of the recent research article on the Hurricane Damage Index, published in the Journal of Catastrophe Risk and Resilience.

PICG Presents California Earthquake Claims Handling Certification, Session 2

This course satisfies the California regulatory requirements for earthquake claims handling certification that is required every three years for all insurance professionals who handle earthquake claims in California.

Notable projects

The Third Party Capital Committee and Members’ Agents Committee are actively engaged in several initiatives aimed at enhancing the structure, efficiency, and compliance of capital management within the Lloyd’s market. Current projects include:

Transition to Citibank custodianship: Overseeing the migration of Funds at Lloyd’s custodial services to Citibank, ensuring continuity, transparency and operational efficiency.
Investment manager onboarding: Facilitating the selection and onboarding of approved investment managers to support the active management of members’ Funds at Lloyd’s.
UK equities compliance review: Addressing regulatory and operational requirements for holding UK equities within Premium Trust Funds and Funds at Lloyd’s.