LMG's remit includes:
- Setting, maintaining and promoting the common vision of London as the market of choice for global insurance
- Identifying and/or initiating and/or approving; and sponsoring commonly agreed projects that will build towards the vision
- Determining the relative priority of projects within the overall modernisation programme
- Commissioning commonly agreed market bodies to take primary responsibility for delivering those projects and to ensure they are appropriately resourced and financed
- Tracking and reporting on progress of those projects
- Leading the communication of the modernisation agenda.
Additionally, LMG exists to provide clarity and, where necessary, leadership on other, non-business process related, issues that require cross market consensus or collaboration.
LMG will therefore consider all work where there is a need to have a co-ordinated or consolidated cross market view on any issue; and where collaboration between market constituents might deliver a more efficient overall outcome than individual action.