The London Market Group (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).
The London market is comprised of over 350 insurance carriers, brokers and affiliated professional services; it employs over 52,000 people and controls more than $91 billion of gross written premium. The LMG 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 LMG has produced its own “London Matters” report, published in November 2014 and refreshed in 2017, which identifies the key challenges and proposes steps to overcome them. From these reports, four interdependent workstreams have been established, notably building a diverse and dynamic workforce and creating an environment for innovation. The LMG is working to uphold these pillars in order to make the London market more attractive, responsive and competitive to clients.