International Underwriting Association

The International Underwriting Association of London, better known as the IUA, represents companies that trade in the London insurance market outside Lloyd’s. They include branches or subsidiaries of nearly all the world’s largest international insurance and reinsurance companies. The exact size of IUA members’ contribution to the London market is not known. They wrote a total of at least £10 billion premium during 2009, a figure that does not include income processed outside the London market bureau. This business is wholesale, the bulk being made up of insurance for large multinational companies or reinsurance. Most of it is international, brought into London by brokers. The IUA provides a forum for discussing market issues and providing technical support to practitioners. IUA members collectively own a 25% share of Xchanging Ins-sure Services (XIS), the provider of back office processing services to the London market. History The IUA was formed in January 1998 from the merger of the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU). The main stated reason for the merger was the desire to give the London company market a single voice in dealings with government, regulators and other insurance bodies. Since the ILU had been formed in 1884, the IUA can claim to go back more than a century. The association has always made reform of the London market a top priority, especially the replacement of out-of-date processes and increased use of technology to conduct business. This led in 1999 to the creation of the IUA-Lloyd’s Forum. This soon expanded to include brokers and eventually evolved into the London Market Group, which is still active today.

The IUA’s mission is “To promote and enhance the business environment for international insurance and reinsurance companies operating in or through London”.

How this mission is interpreted has evolved over the years. From being a mainly strategic and lobbying organisation, it has become more concerned with activities that provide direct support to market professionals in their work. In 2009, the association set itself four strategic priorities:

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