Talbot Underwriting chief executive Rupert Atkin has been appointed as the new chairman of the Lloyd’s Market Association (LMA).

Atkin takes over the role from Barnabas Hurst-Bannister on 1 February.

Atkin has served on a number of market bodies including chairing the Lloyd’s Underwriters Association and Joint War Risk Committee. In 2007, he was appointed to the Council of Lloyd’s.

David Gittings, chief executive of the LMA, said: “Rupert has been extremely active in market matters for many years and commands a great deal of respect among his peers. He has an intimate knowledge of the market, its workings and the challenges it faces. He will make a first-rate chairman of LMA and we are delighted he has accepted the role.

“Last summer, the LMA marked its tenth anniversary with a call to action from our outgoing chairman, Barnabas Hurst-Bannister. We believe that Rupert Atkin is ideally suited to begin the next 10 years of the association’s work, building on what has gone before, and driving us forward to deal with the multitude of issues now appearing over the horizon.”

Atkin said: “I’m honoured to have been appointed chairman of the LMA and will do my utmost to fulfil the role to the high standards set by previous chairmen.

“The LMA holds a vital place in the heart of the Lloyd’s market and indeed my own. It provides professional and technical support to the underwriting community while its sole purpose is to further the market’s interests. In a market characterised by entrepreneurialism and often intense competition, it is critical to have a body identifying the big issues and bringing market participants together to develop solutions. Without the LMA, Lloyd’s would be a less coherent place. 

“2012 promises to be a challenging year for the entire market and I look forward to ensuring we continue to help our members with all their professional and technical needs.”