The member of the Council will be elected from among the C-external members of the Society, 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 (1 October 2024) are entitled to nominate candidates.
Lloyd’s success is integrally linked to the diverse composition of its people and the promotion of an inclusive culture. This applies to Lloyd’s governing bodies as much as it does to any other area of its business. On behalf of the Council, the Nominations & Governance Committee regularly reviews and assesses Council composition, considering the balance of skills, experience, independence, knowledge and, in its broadest sense, the diversity, of the Council. In respect of the elected seat now arising the Council would encourage nominations from eligible members of the Society with experience of:
- Leadership roles in an insurance or related services business
- Underwriting
- Broking
- Operations
- Claims
- Technology
The Byelaw permits service on the Council of up to 9 years in aggregate (in any non-executive capacity and including any time served on the Franchise Board) after which a three-year break is required.
The Byelaw limits the eligibility of “connected” members sitting on the 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.
