Lloyd’s, the world’s leading specialist insurance market, has welcomed the first group of candidates to be accepted in to its graduate programme.
The nine graduates have spent the past week learning about Lloyd’s and the London Insurance Market, meeting their new colleagues and taking part in a Lloyd’s community team challenge.
They will now spend the next 18-months on three six-month placements throughout Lloyd’s, one being with a managing agent, and attending several technical training courses and exams.
Speaking about the successful launch of the programme, Sean McGovern, Lloyd’s Director and General Counsel, said:
"Bringing new talent into the market and nurturing it is essential to our future success. We are delighted to have nine new graduates joining us and I look forward to working with them."
Announced in October 2007, by Lloyd’s Chief Executive, Richard Ward, the Lloyd’s Graduate Programme aims to increase new talent in the market.
McGovern said:
"The market’s reaction to the programme has been excellent. A number of managing agents have offered graduate placements and some have asked for their graduates to take part in our development programmes and inductions."
As well as the Graduate Programme, an insurance internship is starting today that will bring another group of graduates to Lloyd’s and the market, with a particular focus on the claims sector.
Developed by the National Skills Academy for Financial Services in Tower Hamlets College, the Chartered Insurance Institute (CII) and Lloyd’s, the internship sees 10 local graduates and one school leaver join Lloyd’s and several managing agents for a six-week placement.
Emphasising the partnership between the participants in developing the programme, Mark Burr, Senior Claims Account Manager, said:
"The support Lloyd’s received from the Managing Agents and Xchanging in developing the initiative and providing placements to students shows the benefit of addressing market issues in partnership. This also underlines the ongoing commitment of the Lloyd’s market to help local young people access jobs in the City."
Prior to starting a placement, the students will have completed the Certificate of Insurance courses IF1 and IF2, and will gain the qualification by completing the IF4 during their placement.
Both programmes are aimed at increasing talent, diversity and interest in the insurance sector among graduates.
The 2009 Lloyd’s Graduate Programme is now open for applications.
For further information, please contact:
Louise Shield
Tel: +44 (0)20 7327 5793 Fax: +44 (0)20 7327 5229 Email:
louise.shield@lloyds.com
Bart Nash
Tel: +44 (0)20 7327 6272 Fax: +44 (0)20 7327 5229 Email:
bart.nash@lloyds.com
For urgent out of hours media calls Tel: +44 (0)7659 597 825
Find out more about Lloyd's
Lloyd's is the world's leading specialist insurance market. Lloyd's underwriting capacity at 1 January 2008 is £15.95 billion which will be underwritten through 75 syndicates (including SPS and RITC syndicates), managed by 46 managing agents and supported by 176 brokers. It is the world's third largest non-life reinsurer, and is the second largest surplus lines insurer in the US.
Lloyd's is regulated by the Financial Service Authority.
