CRO Next Gen Committee

Established in 2023, the CRO Next Gen Committee is part of the LMA Committee structure and serves as a dedicated development programme for future risk leaders within the Lloyd’s market. The committee aims to enhance diversity, talent and thought leadership at the executive level by providing a platform for knowledge-sharing and professional growth.

Chief Risk Officers Committee

The Chief Risk Officers (CRO) Committee brings together senior risk leaders from across the Lloyd’s market to uphold and advance technical standards in risk management. As a key voice within the LMA, the committee plays a pivotal role in shaping best practices and regulatory dialogue on behalf of its members.

Its core objectives include:

• Championing technical excellence in risk management area within LMA member firms and the wider Lloyd’s market.
• Representing the interests of risk management practitioners in this area with the Corporation of Lloyd’s (“Lloyd’s”), UK and international regulatory authorities, and the wider insurance industry.
• Responding to requests from risk management practitioners in this area, the LMA executive, policy committees and other committees for advice and recommendations on risk management issues or other issues as defined within these Terms of Reference and, where necessary, raising such issues with other organisations or individuals
• Fostering clear and effective communication between the CRO Committee, LMA groups, Lloyd’s, IUA and key external stakeholders.

Through collaboration and leadership, the CRO Committee ensures that the Lloyd’s market remains resilient, informed and at the forefront of risk governance.

CRO Committee Term of Reference

Climate Risk Working Group

The Climate Risk Working Group plays a key role in supporting the Lloyd’s market in navigating the evolving landscape of climate-related risks. Reporting to the LMA Sustainability Committee, this group focuses on the risks associated with climate transition and the regulatory developments around climate risk management and disclosure, ensuring the market is well-equipped to adapt to a rapidly changing risk environment.

Through these initiatives, the Climate Risk Working Group, in collaboration with the LMA Sustainability Committee, helps to shape industry best practices and support the Lloyd’s market in managing the risks presented by climate change.