The Lloyd’s Market Association (LMA) has announced the addition of Dale Underwriting Partners chief executive Duncan Dale (pictured left) and Aspen UK CEO Sarah Stanford (pictured right) to its board of directors.
The board, responsible for shaping the overall strategy and priorities of the association, consists of senior market experts and leaders from the LMA itself.
The new board appointments follow the departure of Dominick Hoare, group chief underwriting officer at Munich Re Specialty Group, and Chris Smelt, underwriting partner at Managing Agency Partners.
“I am delighted to welcome Sarah and Duncan to the LMA board,” commented LMA chief executive Sheila Cameron. “We will all benefit from their deep experience and understanding of Lloyd’s to enable London to continue to lead the global specialty insurance market.”
Meanwhile LMA chair Andrew Brooks, who also serves as non-executive director at Ascot Group, took the opportunity to acknowledge the ex-directors, saying: “I would like to thank Dominick and Chris for their dedication and support to the LMA’s mission and their contributions as board members.”
The changes come on the heels of a joint LMA and Aon report on how capital providers view investing in Lloyd’s.
Titled “Capital Insights: Understanding Investor Experiences at Lloyd’s,” the report reaffirmed the strong position held by Lloyd’s as an investment hub while at the same time outlining several opportunities for improvement.
LMA finance & risk director Paul Davenport said recently: “Our conversations with capital providers highlighted their positive experience of working with members of the Lloyd’s executive team, who are willing to take a commercial and pragmatic approach to facilitate what investors want to achieve.
“While this is encouraging, there remains work to be done to enhance underlying processes for getting things done in the market.”
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