Lloyd’s Market Association elects four board members, unveils diversity target

The  Lloyd’s Market Association (LMA) has elected four new board members and unveiled plans to achieve greater board diversity.

Chris Rash, chief executive officer (CEO) of Talbot, and Lorraine Harfitt, managing director at Asta, have both joined the board as standing members. Mark Graham, CEO of Antares, and Henry Withinshaw, chief operating officer of Newline, also joined the board as representatives of smaller managing agents.

The hires come as the LMA committed to 30 percent of its board members being female and/or from an ethnic minority by the end of 2023. Two of the LMA’s three current executive directors are female: Sheila Cameron as CEO and Jane Hayes as underwriting director.

The LMA has recently added Cecile Fresneau, executive director of the UK insurance division at QBE Insurance; John Fowle, CEO of Chaucer; Mark Gregory, CEO of AXIS Insurance’s international division; and Johan Slabbert, CEO at MS Amlin to its board.

It means the LMA now has three board members from managing agents. It promised there will be more such additions in coming months.

Cameron said: “It gives me great pleasure to further announce our new diversity target, which matches that of the Lloyd’s Council and is higher than the 20 percent target set by Lloyd’s for boards and executive committees. This is the first step on the journey toward achieving a diverse board while setting an example for our market, and we are determined to reach our target by the end of 2023.”

She added: “Our new members bring many outstanding qualities and vast experience to the LMA. Each hail from a variety of disciplines, bringing a diversity of skillset which is also vitally important.”

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