Axa XL’s chief executive announced as LMA’s 2025 chair-elect

The Lloyd’s Market Association (LMA) has announced that Sean McGovern will become chair-elect for 2025 under a new appointment process, with current chair Andrew Brooks extending his term for an additional year.

McGovern is Axa XL’s chief executive for the UK and Lloyd’s. He will also remain in position as chair for the London Market Group (LMG) during 2025, having been appointed on 8 November 2022.

Following the LMA Nominations Committee’s recommendation, he will assume the role on 1 January 2026, after a one year transition as chair-elect alongside current chair Andrew Brooks, who will remain in place until the beginning of 2026.

This one year handover period is to become the standard for future chair appointments to ensure a smooth transition, said the LMA.

Sheila Cameron, chief executive at the LMA, said: “I am delighted that Andrew Brooks and the board have agreed that Andrew will remain as chair for 2025 and also that Sean McGovern will serve as chair-elect during that time.”

Synergies

McGovern assumed his current role at the LMG on 1 January 2023 and succeeded chair Matthew Moore – executive vice president and president of underwriting at Liberty Mutual Global Risk Solutions – who had been in the role for three years.

Cameron said: “McGovern will remain chair of the LMG during 2025 and this will provide a useful synergy across the two associations, helping us to build on our already closely aligned campaigning and market development goals.”

McGovern added: “Our market is an exciting place to be with real future opportunities for growth through innovation.

“Both the LMA and the LMG play important roles in putting forward the value of our market to regulators, government, clients and partners and I look forward to taking on the LMA chair role in 2026 to continue to build the strong partnership between the LMA and Lloyd’s.”

Chairman

Andrew Brooks is currently, and will remain, chairman of the Lloyd’s Market Association (LMA) and is a member of the board of the LMG.

Until February 2023, Brooks was chief executive of Ascot Underwriting – a position he held for 15 years.

Brooks is also a non-executive director of Azur Underwriting and has worked in the Lloyd’s Market since 1983.

Brooks said: “I am looking forward to working closely with McGovern during this year of transition. It has been a pleasure to support the LMA as chair during an exciting growth period for our market.

“As we move forwards, I believe the LMA’s mission to promote and build the expertise and entrepreneurial risk culture of the London market will be in good hands under the new chair.”