The LMG is a market-wide body, bringing together the specialist commercial (re)insurance broking and underwriting communities in London. It is supported by the International Underwriting Association of London (IUA), Lloyd’s of London, the Lloyd’s Market Association (LMA) and the London & International Insurance Brokers’ Association (LIIBA).
It speaks collectively for market practitioners on growth and modernisation issues, and its aim is to build on London’s position and reputation as the global centre of insurance excellence.
The “London Matters” report, published in November 2014 and refreshed again in 2017, reinforced the challenges to the future success of the London Market over the next decade. From these reports, four interdependent workstreams have been established to make our market more attractive, responsive and competitive to clients:
• Building a diverse, dynamic workforce
• Making London an easier, more cost effective place to do business
• Telling the London market story
• Creating an environment for innovation
To help the London Market retain and build on its position as a vibrant international financial services sector contributing significantly to the UK economy.
As the centre of insurance excellence, with a high concentration of intellectual capital fostered by the close co-location of insurers, brokers and support services, we want London to continue to be the location where new solutions to meet new customer demands are developed, nurtured and delivered in an accessible and cost effective environment.
The London Market is the largest global hub for commercial and specialty risk, employing over 52,000, and paying more than £140bn in claims in the last five years
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