Corporate Governance

Corporate Governance

LIMOSS is a private company limited by guarantee. This means that LIMOSS is not-for-profit, and has members who act as guarantors, rather than shareholders who provide share capital.

As a not-for-profit company, LIMOSS seeks to make only sufficient money to operate Market Services on behalf of the London Market.
LIMOSS’s members, who own the business, are the LMA, IUA and Lloyd’s, each of which has one third membership.

The members appoint eight directors to the Board:

• Three non-executive directors (NEDs) are appointed by the LMA
• Two NEDs by the IUA
• Two NEDs by Lloyd’s
• An independent Managing Director (as the executive director) appointed by all three

Name Company Role Appointed by
David Bendle Chaucer Chairman and Director LMA
Patrick Molineux LIMOSS Managing Director LMA, IUA and Lloyd’s
Hermien Smeets-Flier Aegis Director LMA
Martyn Rodden MS Amlin Director LMA
David Cooney QBE Director IUA
Louise Day IUA Director IUA
Claire Schrader Lloyd’s Director Lloyd’s
Jennifer Rigby Lloyd’s Director Lloyd’s