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 Lord Levene, Chairman 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 up to seven non-executive directors appointed for their specialist knowledge and expertise.
In order to carry out its functions, the Franchise Board has a number of key sub-committees.
