The Board of the Lloyd’s Market Association (LMA) has announced it is adopting a new process for the appointment of a Chair, this includes a timing and procedural change.
According to the announcement, following the recommendation of the LMA Nominations Committee, the LMA Board has agreed the new Chair is to take up the position on 1 January 2026, following a transition period of one year.
During this time the future Chair is to serve as Chair-Elect, alongside the existing Chair.
Sheila Cameron, CEO of 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, CEO, UK & Lloyd’s, AXA XL, will serve as Chair-Elect during that time.
“Sean will remain Chair of the London Market Group (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.”
It is expected that the one-year handover period will be replicated in the appointment of future Chairs for the Association, therefore allowing enough time for a seamless handover.
Sean McGovern, Chair-Elect of the LMA and CEO, UK & Lloyd’s, AXA XL, commented: “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.”
Andrew Brooks, current Chair of the LMA, stated: “I am looking forward to working closely with Sean 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, Sean McGovern.”
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