Lloyd’s Market Association announces members for new committee

The Lloyd’s Market Association (LMA) has announced the members of its newly formed chief underwriting officer committee (CUOC).

The CUOC will comprise of 15 members from a broad cross-section of the Lloyd’s underwriting market, a statement released last week (5 April 2023) explained.

It said those selected would be “representative of the managing agent community” and bring “diverse skill, territorial experience and business line expertise”.

Patrick Davison, underwriting director of the LMA, said: “I am very pleased indeed that we have been able to select such a strong group of members.

“The members are a fantastic group of experts who have demonstrable and valuable experience across a broad sweep of the insurance industry.

“The breadth of knowledge will prove incredibly useful as we seek to guide the market through upcoming changes and opportunities.”

The members

The CUOC will be chaired by Nicola Stacey, chief underwriting officer at Chaucer.

She has over three decades of involvement in the insurance and reinsurance sector and held positions in senior underwriting leadership roles at Swiss Re and GE Insurance Solutions.

She said: “The Lloyd’s market is making great strides in its evolution, including becoming a more sustainable place of business, growth in digitisation and understanding the changing nature of risk.

“As a committee, we are well placed to work closely with Lloyd’s to provide guidance and insight into how underwriters across the market can be best supported in these changing times.”

Davison added: “I look forward to working closely with Nicola and the rest of the committee to focus on issues such as market digitalisation, the evolution of Lloyd’s in a rapidly changing and competitive environment and the incorporation of environmental, social and governance (ESG) into underwriting practices.”