The Franchise Board sets the franchise strategy, and is responsible for risk management and profitability targets across the market. It lays down guidelines for all syndicates and operates a business planning and monitoring process to safeguard high standards of underwriting and risk management, thereby improving sustainable profitability and enhancing the financial strength of the market.
The Board is chaired by the Chairman of the Council of Lloyd's, and has three further executive members:
- Chief Executive Officer
- Director of Finance, Risk Management and Operations
- Franchise Performance Director.
Reflecting current best practice in corporate governance, the Board has seven non-executive independent directors appointed for their specialist knowledge and expertise.
In order to carry out its functions, the Franchise Board will have a number of key sub-committees.
