London Market Group

What London Market Group does

London Market Group (LMG), founded in 2012 and headquartered within Lloyd's One Lime Street in London, is the market-wide trade body that convenes and represents the specialist commercial (re)insurance broking and underwriting communities in London. It operates as a non-commercial association funded by four supporting member organisations: the International Underwriting Association (IUA), Lloyd's of London, the Lloyd's Market Association (LMA), and the London & International Insurance Brokers' Association (LIIBA). A small secretariat of fewer than 10 employees, led by CEO Caroline Wagstaff, executes LMG's mandate to provide a unified industry voice on government, regulatory, talent, and market-promotion matters.

LMG's core 'products' are non-commercial in nature and include data standardisation programmes (the Core Data Record, Market Reform Contract v3, LIMOSS Market Business Glossary), talent-attraction campaigns (London Insurance Life, Futures Academy), market-promotion events (London Risk Week, inaugural 11-15 May 2026), and policy publications (London Matters, Plan For the Future, Why London Matters). The Data Council, led by Sheila Cameron (CEO of LMA), drives the digitisation agenda in partnership with ACORD, Velonetic, and LIMOSS, extending standardised transactional data across open market, treaty reinsurance, and (pending consultation) delegated authority business.

LMG's revenue model is membership subscription from its four supporting associations; it does not sell commercial products or services and operates as a trade association rather than a commercial enterprise. Its customer segments are not transactional buyers but rather three audiences it serves: UK government and regulators, future talent (students and graduates), and global insurance buyers, in addition to its 350+ member market firms. Its addressable ecosystem - the broader London Market - generated $187bn in gross written premium in 2024, employed c.61,000 people, and contributed £61bn to UK GDP.

Name

London Market Group

Legal name

London Market Group Secretariat (LMGS)

Website

https://lmg.london

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Membership and Industry Support: LMG is funded through support from its member organizations including the International Underwriting Association (IUA), Lloyd's of London, the Lloyd's Market Association (LMA), and the London & International Insurance Brokers' Association (LIIBA). As a market-wide body, it operates as a trade association for the specialty (re)insurance industry in London.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels9 records

Core offering

London Market Group is the market-wide trade body that represents and coordinates the London specialty insurance and reinsurance market. It convenes its member organisations (IUA, Lloyd's, LMA, LIIBA) to deliver market representation, maintain common data standards, promote the London Market globally, support talent attraction, and conduct government and regulatory relations.

Product overview

London Market Group is a market-wide body representing the specialist commercial (re)insurance broking and underwriting communities in London. Rather than a unified product, it offers a portfolio of initiatives and standards: the Data Council oversees digitisation through the Core Data Record (CDR) and Market Reform Contract (MRC) frameworks; talent initiatives include London Insurance Life careers platform, Futures Academy work experience programme, and LMG Toolkit for schools; market promotion is delivered through London Risk Week events and publications including London Matters annual report, Plan For the Future strategy, and Why London Matters market analysis. The LMG facilitates debate and takes action on topics where a single voice is most effective for the London insurance market.

Differentiator

Problem solved

Functional benefit

Brands

• London Insurance Life: Campaign initiative to attract young talent to the London insurance market, curating engaging content about working in the London Market including entry level jobs, schemes and events information.
• Data Council
• London Risk Week

Products and services

• Market Representation

Quantifiable outcome

• London Market doubled in size over last c.10 years to $187bn GWP in 2024
• +5 more outcomes

Named customers15 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered flagship, key and core.

• Insurance United Against DementiaflagshipOthers · 13 April 2026Charity partner for London Risk Week 2026. Industry movement created and championed by leaders across insurance addressing dementia, which is now the leading cause of death in the UK.
• Insurance InsiderkeyGTM or Marketing Partner · 9 March 2026Media partner for London Risk Week, hosting events throughout the week. Provides media coverage and visibility for the initiative.
• ACORDkeyGTM or Marketing Partner · 9 March 2026In celebration of their 25th anniversary, ACORD will host a lounge offering free coffee and workspace to London Risk Week event delegates.
• City of London CorporationflagshipStrategic or Co-development Partner · 23 February 2026Strategic partner for London Risk Week, with Dame Susan Langley (Lady Mayor of the City of London) providing leadership. Partnership focuses on celebrating London's position as the home of global risk transfer.
• London Risk Week Supporting PartnerskeyStrategic or Co-development Partner · 23 February 202652+ organizations supporting London Risk Week including: The ABI, Antares, Gallagher, McGill & Partners, AIRMIC, Aon, AXIS, Oak Global, Lloyd's Market Association, Marsh, Liberty Specialty Markets, PWC, Lloyd's, Westfield Specialty, Acrisure, Eversheds Sutherland, AXAXL, KPMG, PPL, Beazley, Insurance Insider, Chaucer, Eastern City, Humanity Insured, Keoghs, Miller, Munich Re Specialty, Verisk, Atrium, Crawford, Teneo, CRO Network, AIG, Talbot, Allianz, CNA Hardy, HDI Global, Howden, Insurance Insider, LIMOSS, Markel, MHP, Velonetic, Willis Towers Watson, and others.
• ACORDcoreTechnology or IntegrationACORD (Association for Cooperative Operations Research and Development) is a key technology partner providing global data standards. LMG's Data Council works in conjunction with ACORD on data standards including the GRLC (Global Reinsurance and Large Commercial) standard. The CDR aligns with ACORD standards to drive greater interoperability of systems between London and other global insurance markets.
• LIMOSScoreTechnology or IntegrationLIMOSS (London Insurance Market Operations Shared Services) provides the Market Business Glossary (MBG), a centralised source of business definitions, standards and reference data for the London Market. LIMOSS hosts the CDR consultation processes and provides infrastructure for market digitalization initiatives.
• VeloneticcoreTechnology or IntegrationDigital market infrastructure partner providing platforms for Core Data Record (CDR) and Market Reform Contract (MRC v3) access and implementation. Supports the Blueprint Two digital transformation programme.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Insurance Europe: European insurance industry federation representing insurers and reinsurers across Europe. Directly comparable as a continental-level trade association convening industry voice on regulation, market development and standardisation — analogous to LMG's role at the London Market level.
• Association of British Insurers (ABI): UK insurance industry trade association representing general insurers. Comparable as a London/UK-based trade body advocating for the insurance sector to government and regulators, though LMG is more focused on the specialty commercial (re)insurance niche.
• British Insurance Brokers' Association (BIBA): UK trade body for insurance brokers. LIIBA is one of LMG's four supporting members and shares overlapping broker representation remit with BIBA, making it a close comparable in mission and constituency.
• The Geneva Association: Global insurance industry think tank comprising CEOs of major insurers. Comparable as a high-level industry convening body focused on economic and policy research — aligned with LMG's senior-executive board structure and policy advocacy role.
• Insurance Information Institute (Triple-I): US insurance industry information and education body. Comparable as a national-level insurance trade association focused on market promotion, public education and data dissemination — paralleling LMG's shop-window, talent and data roles.

Others

• International Underwriting Association (IUA): London-based trade association representing companies writing business in the London Market. Although it is one of LMG's four supporting/funding members rather than a peer, it overlaps substantially on London Market representation, data standards and member services.
• Lloyd's Market Association (LMA): Trade body representing Lloyd's managing agents. Although a key funder of LMG, it shares stakeholder relations, regulatory engagement and market representation functions for the Lloyd's/London specialty community.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/londonlmg
• YouTubeyoutube.com/channel/UC5EJDqM76Lm1LYhvYVUaj0g
• Facebookfacebook.com/londoninsurancelife
• LinkedInlinkedin.com/company/london-market-group
• Instagraminstagram.com/londoninsurancelife

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about London Market Group