Reinsurance News

Sean McGovern appointed as new Chair of London Market Group

8th November 2022 - Author: Jack Willard

The London Market Group (LMG) has announced that Sean McGovern, Chief Executive Officer, UK & Lloyd’s, AXA XL, will become its next Chair, taking up the role on January 1st, 2023.

Matthew Moore, Executive Vice President and President of Underwriting at Liberty Mutual Global Risk Solutions will be stepping down at the end of his three-year tenure in December.

LMG has confirmed that Moore will still remain a member of the Board.

McGovern, commented: “I know that I speak for the Board in thanking Matthew for the energy and wisdom he has given to the market in the last three years, providing great leadership through the pandemic and leaving the LMG in a really strong position to drive the market’s agenda.

“I have served on the board of the London Market Group since 2019, leading its regulatory and government relations work for most of that time. This has allowed me to see first hand exactly how critical cross-market support is for projects that can stimulate growth, promote our interests as an industry and deliver positive change. I look forward to working with Board and the CEO on all of these challenges as the LMG’s new Chair.”

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Moore, added: “The last three years have particularly challenged the London Market’s preeminent position as the leader for specialty insurance. During this time the LMG has responded with characteristic energy and intelligence to plot out our path for future success. Our relationships with UK government, international customers and brokers, and market practitioners have never been stronger.

“Our recently launched initiative to attract a better pipeline of smart and diverse talent to our market is a perfect example of what the LMG can achieve. I am delighted that Sean is taking on the Chair. He has a depth and breadth of experience in the London Market that will be invaluable in continuing to build the work on which the LMG is focused.”

In September, it was reported that Beazley’s Group Head of Strategy, Rachel Turk had joined the LMG board.

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