Lloyd’s of London, a leading global insurance and reinsurance marketplace, has announced a ballot for the election of two working member representatives to its Council following the close of nominations on 15 September 2025.
Three candidates have been confirmed for the two available seats: Duncan Dale, Richard Dudley, and David Ibeson.
Since the number of candidates exceeds the vacancies, a ballot will now take place. Members are being provided with details of the voting process today.
The elected representatives will begin their three-year terms on 1 February 2025, unless the appointments end earlier in line with paragraph 5.28 of the Constitutional Arrangements Byelaw (No. 2 of 2010).
The election continues Lloyd’s long-standing governance process, ensuring that working members retain direct representation in shaping the market’s strategic direction and oversight.
According to Beinsure, Lloyd’s announced its results for the 6M 2025 with gross written premium increasing to £32.5bn and a combined ratio of 92.5%.
Gross written premium increased by 6.2% to £32.5bn, driven by volume growth of 11.9% from new and existing syndicates.
The positive impact from volume was partially offset by adverse foreign exchange movements of (2.2)% as sterling strengthened against the US dollar, and by a negative price change of (3.5)%, though rates in most segments remain adequate.
The market reported an underwriting result of £1.5bn, with the combined ratio rising to 92.5% driven primarily by the impact of the California wildfires in the first quarter of 2025.
Lloyd’s kicked off its 2025 reinsurance capacity auctions with a bang. Trading in the first of three auctions hit £86 mn, the busiest opening round in ten years, with deals struck across 21 syndicates.
Data from Argenta shows subscriptions at £32.7 mn against £35.2 mn of tenders – healthy liquidity and a signal that investors still want in on Lloyd’s capacity.
New entrants Volante Syndicate 1699, Convex Syndicate 1984, and Oak Syndicate 2843 all made their auction debuts, broadening the market mix as fresh platforms step up.
Yet prices told a softer story. Argenta’s composite index for traded capacity fell from 41.4 p per £1 in the 2024 auctions to 36.9 p this year.
