LMA to increase focus on North American market in 2025: CEO Sheila Cameron

Sheila Cameron, CEO of the Lloyd’s Market Association (LMA), has announced that the organisation will focus more on the North American market.

Cameron highlighted that North America has long been crucial to the premium volumes and profitability of the Lloyd’s market, with the US and Canada currently accounting for 58% of Lloyd’s market premium.

She emphasised that the LMA’s role is to work closely with Lloyd’s to ensure a suitable regulatory environment and promote Lloyd’s as a global leader in managing complex specialty risks.

The LMA also coordinates insurers in times of catastrophe, facilitating prompt claims responses and managing regulatory requirements.

Cameron stated that the LMA will increase its presence at key US events to reinforce the role of Lloyd’s insurers as vital, engaged, and proactive partners to the US insurance market.

She said, “In 2025, the LMA will therefore look closely at how to deliver this engagement alongside Lloyd’s and on behalf of our members. We are continuing to develop this plan, but we know that a regulatory engagement strategy will be part of the story. We also know that it will be a priority.”

Cameron also advised caution regarding potential challenges from the Trump administration, emphasising the importance of working with state regulators.

She added, “In Sir Charles Roxburgh, Lloyd’s will have a new Chair with considerable access to US views, and experience not only in how a Donald Trump administration will operate; but also great expertise at international negotiation. This is a helpful development at this point in time.”

“So let’s work together in 2025 to focus on building our reputation and a ‘go-to’ status in North America. The LMA will do its part, and insurers and brokers also will no doubt have this in mind as we enter a new year with more challenging market conditions and close out another active hurricane season. The partnership across the Atlantic has been critical to everyone in insurance for many decades, and we must make it a priority for it to remain so,” Cameron concluded.

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