LMA appoints new board members and sets board diversity target
The Lloyd’s Market Association (LMA) has announced the appointment of four new board members and has also set a target to achieve greater board diversity in the near future.
In support of industry efforts to become more inclusive, the LMA has committed to 30% of its board members being female and/or from an ethnic minority by the end of 2023.
Joining the board as new standing members are Talbot CEO Chris Rash and Asta Managing Director Lorraine Harfitt. Also joining the board as representatives of smaller managing agents are Antares CEO Mark Graham and Newline COO Henry Withinshaw.
Other recent additions to the LMA board include Cecile Fresneau, Executive Director, UK Insurance division, QBE Insurance; John Fowle, CEO, Chaucer; Mark Gregory, CEO, AXIS Insurance, international division; and Johan Slabbert, CEO, MS Amlin.
This increases the number of female LMA board members from managing agents to three, with more planned to join over the coming months. In addition, two of the LMA’s three executive directors are also female – Sheila Cameron as CEO and Jane Hayes as Underwriting Director.
LMA Chief Executive Sheila Cameron said: “I am extremely pleased to welcome our new board members, and would like to thank those who have stepped down this year for all their valuable contributions, including Colin O’Farrell of QBE, Tom Clementi of MS Amlin, Julian Tighe of Asta and David Ibeson of Apollo. 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.
“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% 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.”
Argo Group shareholders elect new board members at 2020 Annual General Meeting
Argo Group International Holdings, Ltd. (NYSE: ARGO) (“Argo” or “the Company”), an international underwriter of specialty insurance and reinsurance products, announced shareholders’ election of three new board members: Bernard C. Bailey, Fred R. Donner and Argo Group Chief Executive Officer Kevin J. Rehnberg.
“Today marks several noteworthy milestones for Argo,” said Thomas A. Bradley, Argo Group board chairman.
“We appreciate the support from our shareholders approving meaningful governance enhancements and the election of the board. We are also pleased to welcome three new directors to the board who join with a tremendous amount of experience that will serve the company well as we look to the future.
“On behalf of the entire board, I would also like to thank the former directors completing their board tenure. The company has grown significantly and evolved into a strong specialty insurer under their direction. We appreciate their leadership, commitment and contributions to positioning this company for future success.”
Five former directors are retiring from the board, including former Board Chairman Gary V. Woods, F. Sedgwick Brown, Hector De Leon, Mural R. Josephson and John R. Power. Shareholders also approved proposals to reduce the maximum board size from 13 to 11 directors and to declassify the board – voting on the full board annually.