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 The 2016 Private Capital Report was commissioned by the Association of Lloyd’s Members (ALM) and the three Lloyd’s members’ agents.  Its aim was to survey the attitudes of the managing agency community, and other interested parties, about the future of private capital within the Lloyd’s Market.  The report was written by Chris Harman and Ian Clark.  The launch of the Review was held in Lloyd’s Old Library today (1 August 2016), where it was very well received by a packed audience of members and managing agents, Lloyd’s personnel and other interested parties.

ALM board member Philip Swatman has been elected unopposed to the Council of Lloyd’s. His term of office begins on 1 February 2016 and lasts for three years. Philip joined the board of the ALM earlier this year and has been a Name since 1984. He now underwrites with his wife through a LLP, with a capacity of £1,444,708 for 2016. More details of his business background, including advising Lloyd’s and then Equitas on Lloyd’s ‘reconstruction and renewal’, were contained on page 3 of the October / November issue of ALM News.

Under the Lloyd’s Act 1982 and Lloyd’s byelaws, the register of members of Lloyd’s is split between Working Members and External Members and the External category is then further divided into Individuals and Corporates. The distinction between Individual External Members (IEMs) and Corporates was introduced following the Pen Kent review of 1998 and was designed to group together, for purposes of voting in Council elections, those members whose interests are most closely aligned.