LMG Chief Executive Clare Lebecq and Cameron Murray Head of Government Policy & Affairs at Lloyd’s will represent the interests of the London Market on a new body advising the Treasury on future UK trade policy.
The group of trade policy experts, which held its first meeting last month, has been convened by HM Treasury, working closely with the Department for International Trade, will feed into the development of the UK’s financial service trade policy objectives outside of the EU.
The creation of the advisory group will mean that the interests and priorities of the London Market continue to be represented directly with the Government as it develops its trading priorities post Brexit.
The appointments follow the publication of the London Market Group‘s Future Trading Opportunities report, earlier in the year, which identifies target markets including Switzerland, the USA, Latin America and ASEAN markets such as Indonesia, where London could grow its share of business.
Clare and Cameron will work with representatives of other financial services bodies to provide expert advice, identify any risks and benefits to proposals and help assess the impact on London Market as the UK’s trade policy develops.
Clare Lebecq, Chief Executive of the London Market Group said: “We’re very pleased that the Government has recognised the value of the London Market to its trade agenda. The industry is Great British export success story, but there remain markets which would benefit from closer trade with London. We can work with these markets to help them harness global insurance capacity to deliver ambitious economic growth, build resilience against natural disasters and protect against emerging risks.
What I hope we can do as part of this important new advisory group is consider how some of the current barriers that prevent London Market firms from offering these great services and products to new markets can be reduced, particularly so that businesses and clients in emerging markets can gain the full benefits of trading with the world’s biggest commercial insurance market.”