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LONDON-David Rowland will continue at the helm of the storm-battered Lloyd's of London insurance market for another year.
At its first meeting of the year last week, the Council of Lloyd's-the ruling body for the market-formally re-elected Mr. Rowland to his post as chairman of Lloyd's.
Mr. Rowland was first elected chairman of Lloyd's in 1992, after heading up a task force that recommended wide-ranging changes in the market (BI, Aug. 3, 1992). He previously was chairman of broker Sedgwick Group P.L.C.
Also last week, the Council re-elected John Stace, chairman and chief executive officer of Lloyd's members' agency, Stace Barr Underwriting Agencies Ltd., deputy chairman.
The market's other deputy chairman post was filled by John Charman, underwriter for syndicate 488 and managing director of Charman Underwriting Agencies Ltd. Mr. Charman was elected to the Council for the first time at the end of last year.
In addition, two nominated members of the Council were appointed to fill vacancies created last year by the departure of Miles Rivett-Carnac and Robert Owen.
Brian Pomeroy, senior partner with London accountant Touche Ross, who has previously served on Lloyd's Council, and retired stockbroker John Young are the newest nominated Council members.
Nominated Council members are typically individuals drawn from the top ranks of U.K. business and their appointment must be approved by the governor of the Bank of England. Their role on the Council is equivalent to that of non-executive director on a company's board.
Mr. Pomeroy has also been appointed a deputy chairman of the Lloyd's Regulatory Board, under the chairmanship of Sir Alan Hardcastle, who is also a deputy chairman of the Council.
Sir Alan was castigated by a House of Commons Treasury and Civil Service Select Committee for "drawing a veil" over members' allegations of concealment of long-tail losses last year (BI, May 29, 1995).
Both the Lloyd's Regulatory and Market Boards have new members in addition to the newly elected Council members.
The Market Board has gained working member Colin Spreckley, underwriter for syndicate 1007, managed by Spreckley Viller Burnhope & Co. Ltd., and external name Richard Lewy.
Corporate capital providers are now represented on the Regulatory Board in the guise of investment manager Anthony Townsend.
Ralph Sharp, managing director of Archer Group Holdings P.L.C., and newly promoted group managing director of Wellington Underwriting Holdings Ltd., Julian Avery, have been appointed to the regulatory board from the ranks of working members.
Separately, the Lloyd's Insurance Brokers' Committee has elected new officers for 1996.
Anthony Howland Jackson, chairman of Bain Hogg Group, has been appointed chairman of the LIBC, taking over from Dieter Losse, chairman and chief executive of Greig Fester International Ltd. Max Taylor, chief executive officer of Willis Corroon P.L.C. and Michael Kier, chairman of C.E. Heath P.L.C., have been elected deputy chairmen of the committee.