The London Market Group (LMG) has announced several changes to its board, including the appointment of Chris Lay, CEO of Marsh UK, as its new Chair, succeeding Sean McGovern.
Theo Butt, CEO, UK at Convex, also joins the board in place of Claire Macdonald, CEO of SCOR. This follows Butt’s recent appointment as Chair of the International Underwriting Association (IUA). He brings more than two decades of industry experience, having served as CEO of Convex Insurance, UK for the past five years. Prior to that, he held senior positions at Neon, Ascot Group, and Marsh.
Newly appointed Chair of the Lloyd’s Market Association (LMA), Sean McGovern, CEO UK & Lloyd’s at AXA XL, also joins the board, replacing Andrew Brooks, outgoing Chair of the LMA. McGovern served as Chairman of the LMG board for three years and has spent the past seven years at AXA XL. Earlier in his career, he held senior roles at TheCityUK, XL Catlin, and Lloyd’s.
Alex Powell, CEO of AEGIS London, joins the board as a representative of the LMA. He has worked at AEGIS for 25 years and has served as CEO for the past three years.
Patrick Tiernan, CEO of Lloyd’s, replaces Rachel Turk, Chief of Market Performance at Lloyd’s. Prior to joining Lloyd’s, he was Managing Director UK Commercial Lines & Global Corporate & Specialty at Aviva and also held positions at StarStone Insurance, Zurich, and EY.
Chris Lay said, “I would like to extend my thanks, and the thanks of the Board, to Claire, Andrew, and Rachel for their dedication and commitment to the work of the LMG during their time on the board. Their contributions have been invaluable.
“As we welcome Theo, Alex, and Patrick, I am energised by the opportunity to work together on the LMG’s core priorities of attracting the next generation of talent to the London insurance market, and ensuring we advocate for the most competitive and forward-thinking regulatory environment. With their expertise and fresh perspectives, I am confident we will continue to strengthen the London Market’s position as a global leader.
“I am also delighted that Sean maintains a seat on the board in his new role as Chair of the LMA and look forward to benefitting from his continued contributions as we advance these priorities.”
