The London Market Group (LMG) has revealed that Sean McGovern (pictured), chief executive officer, UK & Lloyd’s, AXA XL will take on the mantle of chair of the LMG from January 1, 2023.

Matthew Moore, executive vice president and president of underwriting at Liberty Mutual Global Risk Solutions will step down at the end of his three-year tenure in December. He will remain a member of the LMG Board.

Commenting on the news, Moore highlighted that the last three years have challenged the London Market’s preeminent position as the leader for specialty insurance. During this time, he said, the LMG has responded with “characteristic energy and intelligence” to establish its path to future success.

“Our relationships with UK government, international customers and brokers, and market practitioners have never been stronger,” he said. “Our recently launched initiative to attract a better pipeline of smart and diverse talent to our market is a perfect example of what the LMG can achieve. I am delighted that Sean is taking on the chair.  He has a depth and breadth of experience in the London Market that will be invaluable in continuing to build the work on which the LMG is focused.”

Incoming chair, McGovern said he knows he speaks for the board in thanking Moore for the energy and wisdom he has given the market in the three years, for his great leadership during COVID and for leaving the industry body in such a strong position to drive the market’s agenda. 

“I have served on the board of the London Market Group since 2019, leading its regulatory and government relations work for most of that time,” he added. “This has allowed me to see first-hand exactly how critical cross-market support is for projects that can stimulate growth, promote our interests as an industry and deliver positive change. I look forward to working with board and the CEO on all of these challenges as the LMG’s new chair.”