Lloyd’s announces Council election results
23/01/2006, Five appointments to the Council of Lloyd’s, the ultimate governing body of the market, have been made following the Council elections, which closed on 20 January, 2006.
Further to a ballot of the working members of the Society, Ewen Gilmour, Chief Executive of Chaucer Syndicates Limited, and Graham White, Chairman of CBS Private Capital Limited, have been elected as working members. They replace John Coldman, Chairman of Benfield, and David Shipley, Chief Executive of MAP Capital Limited, whose terms of office expire on 31 January, 2006. The appointments are for a three-year term commencing 1 February, 2006. David Foreman, Chief Underwriting Officer at Wellington, also stood in the election.
Following a ballot of external members, AJ SLP09, represented by Peter Morgan, has been re-elected as an individual external member for a three-year term commencing 1 February, 2006. The vacancy was contested by Julian West.
Brit UW Limited, represented by Anthony Townsend, and MAP Capital Limited, represented by David Shipley, will serve as corporate external members. They replace Limit (No. 2) Limited, represented by Steven Burns, and Wellington (Five) Limited, represented by Preben Prebensen, whose terms of office expire on 31 January, 2006. These vacancies were not contested so a ballot was not necessary. Brit UW Limited will serve a one-year term and MAP Capital Limited a three-year term, both commencing on 1 February, 2006.
All new appointments are subject to approval by the Financial Services Authority.
Notes to Editors
1. The ballot for the Council elections closed on 20 January 2006 at 1:00pm. The deadline for nominations was 25 November 2005. The election of working members is conducted on a one member, one vote basis. External members are elected on a capacity weighted basis. The ballot was independently managed by Electoral Reform Services (ERS).
2. Since the announcement of the Council election results in January 2005, the following changes were made to the Council: Lord Levene of Portsoken was re-elected unopposed as a working member for a three-year term commencing on 7 November 2005; Celia Denton joined the Council as a nominated member in March 2005; and Bill Knight was reappointed as nominated member with effect from 1 January 2006. Both Ms Denton and Mr Knight will serve three-year terms. The appointment of nominated members is confirmed by the Governor of the Bank of England, and all new appointments are approved by the FSA.
3. Under the Lloyd’s Act of 1982, the Council of Lloyd’s is responsible for the management and supervision of the market. It consists of six working, six external and six nominated members. The working and external members are elected by Lloyd’s members. The Chairman and Deputy Chairmen of Lloyd’s are elected annually by the Council from among the working members of the Council.
As from 1 February, 2006, the Council of Lloyd’s will consist of the following members:
Lord Levene of Portsoken
CEO of Lloyd’s, TBC
Corporate ’C’ External Members
Amlin Corporate Member Ltd, represented by Charles Philipps
Brit UW Limited, represented by Anthony Townsend
Liberty Corporate Capital Limited, represented by Sean Dalton
MAP Capital Limited, represented by David Shipley
Individual External Members
AJ SLP09, represented by Peter Morgan
Sumac Underwriting (UK) Limited, represented by Quentin Davies, MP
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