Reinsurance News
London Market Group
LMG’s Data Council updates Core Data Record to support treaty reinsurance
18th May 2026
Following a consultation involving 68 organisations across the Lloyd’s and London markets, the London Market Group’s Data Council has updated the Core Data Record (CDR) to version 3.3, introducing new data fields designed to support treaty reinsurance business. The scope of the new v3.3 placing CDR has been expanded from the ... Read the full article
London Market looks to talent, capital and innovation as competition intensifies
5th February 2026
While the London Market has doubled in size over the past decade to $187 billion in GWP and contributes £61 billion to UK GDP, some smaller jurisdictions have reportedly grown faster in recent years, highlighting, according to the London Market Group (LMG), the need for new capital, high-quality young talent, ... Read the full article
LMG announces changes to its board
21st January 2026
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 Read the full article
LMG’s Data Council launches consultation for Claims Core Data Record
3rd December 2025
The London Market Group’s (LMG) Data Council has launched a consultation on the structure and fields of the Core Data Record (CDR) to cover claims. According to the announcement, the consultation will run for 12 weeks from November 26th. Market members can access the consultation via the LIMOSS website, and briefing sessions ... Read the full article
London Market a critical partner in energy security and growth: LMG
20th November 2025
A new report from the London Market Group has identified energy security as a cornerstone of national resilience and strategic autonomy, emphasising the crucial role of insurance, particularly the London Market, in unlocking, promoting, and enabling the growth of new energy sources in the UK and worldwide. LMG's new report, "Helping ... Read the full article
Marsh McLennan’s Chris Lay to succeed Sean McGovern as LMG Chair
29th September 2025
Chris Lay, Chief Executive Officer of Marsh McLennan UK, will become the next Chair of the London Market Group (LMG), succeeding Sean McGovern, Chief Executive of AXA XL Lloyd’s and London Market. McLennan will take over his new position on January 1st, 2026, following McGovern’s departure in December, as he concludes ... Read the full article
Industry welcomes UK captive insurance regime green light
15th July 2025
Several firms, including the London Market Group (LMG), the International Underwriting Association (IUA), and LIIBA, have welcomed the Chancellor of the Exchequer’s announcement that HM Treasury will proceed with introducing a UK regime for captive insurance companies. The announcement follows a multi-year campaign calling for a dedicated and proportionate regulatory regime ... Read the full article
AIG’s UK CEO Chris Rash joins LMG’s board
3rd June 2025
The London Market Group, a market-wide body representing the specialist commercial re/insurance broking and underwriting communities in London, has appointed Chris Rash, CEO of AIG UK, to its board. Rash, who joins as AIG UK’s representative of the International Underwriting Association (IUA), commented, “I am delighted to join the LMG board ... Read the full article
London insurance market welcomes UK Gov action plan to cut red tape & boost growth
18th March 2025
In a move aimed at stimulating economic growth and enhancing the UK’s competitiveness, H.M. Treasury has released an Action Plan to reform regulation, focusing on cutting red tape for businesses. London insurance market organisations have responded positively to the UK Government's policy paper welcoming a ‘new approach to ensure regulators and ... Read the full article
LMG adds Chubb’s David Kirk to Board as IUA representative
12th February 2025
David Kirk, Division President of Chubb Global Markets, has joined the London Market Group (LMG) board as a representative of the International Underwriting Association (IUA). Kirk succeeds David Furby, Senior Vice President of Chubb Group and Regional President for Europe, the Middle East, and Africa. Kirk has been with Chubb for nearly ... Read the full article
UK government to consult on captive insurance framework, industry responds
15th November 2024
Rachel Reeves, Chancellor of the Exchequer, has revealed that the government is consulting on introducing a new framework for UK-based captive insurance companies to make the UK insurance market a more attractive hub for firms seeking efficient risk solutions. In an announcement outlining a package of reforms aimed at solidifying the ... Read the full article
LMG’s Data Council unveils consultation for Treaty Core Data Record
23rd October 2024
The London Market Group's (LMG) Data Council has unveiled a consultation on the structure and fields of its proposed extension of the Core Data Record (CDR) to cover Treaty. According to the announcement, the consultation will run for eight weeks from October 22nd. It's worth noting that market members will be able ... Read the full article
LMG adds Aon’s Kus to board as representative of LIIBA
18th September 2024
Tracy Lee Kus, Head of Aon’s London-based Global Broking Centre, has joined the London Market Group (LMG) board as a representative of London & International Insurance Brokers’ Association (LIIBA). Kus, who has over three decades of experience in the insurance industry, joined Aon’s Global Broking Centre earlier this month after ... Read the full article
London re/insurance groups hopeful new UK gov will apply ‘lighter touch’ to regulation
23rd May 2024
Representatives from the Lloyd’s Market Association (LMA) and the London Market Group (LMG) have expressed their hopes that a new UK government continues to back the country’s financial services to support the Lloyd’s market's significance and continuous growth. The comments follow UK Prime Minister Rishi Sunak’s call for an early general election ... Read the full article
Innovation key if London Market is to maintain its primacy: LMG
20th May 2024
Caroline Wagstaff, CEO of the London Market Group (LMG), has observed that if London is to remain the place where the world brings its risks, action must be taken at both a firm and market level to make specialty insurance a destination career for young people. Wagstaff's comments come as part ... Read the full article
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