The London Market Group’s (LMG) Futures Academy has returned, running for two weeks from July 1 and culminating in a Careers Festival at the Lloyd’s Building on July 12.

Described by LMG as “bigger and better,” the second year of the initiative features 150 participating students (up from 2023’s 115) and 50 market firms offering their support.

Lloyd’s, WTW, Howden, Liberty Specialty Markets, and Marsh are hosting the students in the Academy’s first week. The participants will engage in various collective activities designed to enhance their understanding of the industry, supported by around 150 market volunteers.

In the second week, each student will spend time working within an insurance business.

Sean McGovern, LMG chair and AXA XL UK chief executive, remarked: “The Academy was a great success in 2023, and eight alumni will start work in the market this autumn – students who, until they took part, had not heard of specialty insurance or the London Market.

“We were massively oversubscribed in our first year, so we have grown the programme significantly to meet the student demand and give more young people a chance to learn about the careers our market can offer.”

LMG CEO Caroline Wagstaff (pictured) added: “The insurance market needs more young people. Our London Matters data released earlier this year shows that there are as many people over 50 in the market as under 30. We can change that data point with initiatives like the Futures Academy.

“It is a great way to promote specialty insurance as a destination career to young people, and it also presents market firms with students from the diverse range of backgrounds that many want to tap into but find hard to access.”

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