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Council of Lloyd's - Notice Of Election

Notice is hereby given that in accordance with the Constitutional Arrangements Byelaw (No. 2 of 2010) (“the Byelaw”), the terms of office of the following members of the Council expire on 31 January 2019:

Fri 19 Oct 2018

Working Members:

Julian James
Neil Maidment

Individual External Member:

Nomina No 115 LLP (Represented by Philip Swatman) (this seat will become a C-External seat – see below)

C-External Members:

Flectat Limited (Represented by Michael Watson)
Novae Corporate Underwriting Limited (Represented by Matthew Fosh)

The allocation of external seats between individual external members and C-external members on Council is determined in accordance with paragraph 2.2 of the Byelaw. Current forecasts indicate that the capacity provided by individual members lies between 5% and 10%. Accordingly, Nomina No 115 LLP, represented by Philip Swatman is not eligible to stand for re-election and the vacancy arising as a result will lead to an additional C-external seat on Council.

Accordingly, pursuant to the Byelaw the Council has set a ballot date of 8 January 2019 to elect two working members and three C-external members of the Council. The term of office for each of these vacancies shall be for a period of three years and shall commence on 1 February 2019.

The Byelaw limits members of Council (other than the Chief Executive Officer) to serve no more than nine years in aggregate as a member of the Council. Novae Corporate Underwriting Limited has served nine years.

The Byelaw limits the eligibility of “connected” members sitting on Council at the same time. As a consequence, additional vacancies may arise when the results of the election are known. In that event the additional vacancies will be filled by the candidates with the next highest number of votes in the relevant constituency and the term of office will be for the unexpired term of office of the member resigning.

How to stand for election

The members of Council will be elected from among the working and C-external members of the Society respectively, by ballot of those members of the Society whose names are shown on the date of this notice in Part I or Part II of the Register as appropriately referred to in Schedule 1 of Lloyd's Act 1982 and who have not ceased to be members before the date of the ballot. Under the Byelaw only those members whose names are shown on the relevant Part of the Register on the nominations date (14 November 2018) are entitled to nominate candidates.

If you wish to stand for election your completed nomination form must be received by the appointed scrutineers, Electoral Reform Services, by 1.00pm on 14 November 2018.

Alternatively, forms are available from the Council Secretariat

By order of the Council
Peter Spires
General Counsel & Company Secretary
18 October 2018