Lloyd former Chairman dies

Lloyd International Insurance Market has announced the passing away of its former Chairman, Sir David Rowland.

Sir David was Chairman of Lloyd’s between 1993 and 1997. During the period of leadership, he played a critical role in safeguarding the future of the Lloyd’s market through perhaps its most difficult period.

Under his stewardship, Lloyd’s was able to confront and address the losses it was facing and put in place many of the necessary structural changes that still underpin the market, ensuring it remained on a firm footing.

Sir David was awarded a Gold Medal for Services to Lloyd’s in 1996. The medal has been awarded just 17 times since it was first introduced in 1919.

Bruce Carnegie-Brown, Chairman of Lloyd’s, said: “We would like to express our deep sympathy and send our condolences to Sir David’s family for the debt of gratitude that we as a Corporation and a Market have to him.”

We will share further information regarding arrangements in due course.

Lloyd is a unique insurance market with an unrivalled concentration of specialist underwriting expertise and every day, more than 50 leading insurance companies, over 200 registered Lloyd’s brokers and a global network of over 4,000 local cover holders operate in and bring business to the Lloyd’s market.

But in an unpredictable global climate, Lloyd’s underwriters must also rely on their experience and industry knowledge to cast light into the darkness ahead. Behind the Lloyd’s market is the Lloyd’s Corporation, not itself an insurer but an independent organisation and regulator that acts to protect and maintain the market’s reputation and provides services and original research, reports and analysis to the industry’s knowledge base.

Under one globally trusted name, the Lloyd’s market and Lloyd’s Corporation work together to protect your interests, promote economic growth and underwrite human progress.

The majority of business written at Lloyd’s is placed through brokers who facilitate the risk-transfer process between clients (policyholders) and underwriters.

The Corporation oversees and supports the Lloyd’s market, ensuring it operates efficiently and retains its reputation as the market of choice for specialist insurance and reinsurance risk.

Lloyd’s financial strength derives from its unique capital structure, often referred to as the ‘Chain of Security’. It provides excellent financial security to policyholders and capital efficiency for members.