Media Release 4 September 2025

IUA COMMENTS ON BLUEPRINT TWO PROGRESS

The International Underwriting Association (IUA) has welcomed a transparent assessment of the Blueprint Two project to transform the London Market’s business processing.

Responding to a statement from Patrick Tiernan, Lloyd’s Chief Executive Officer, Louise Day, Chief Operating Officer at the IUA, said: “It is essential that our sector develops a robust market infrastructure that is easily extendable for a data-first approach in future.

“Automating heavily embedded processes to handle thousands of messages between hundreds of market participants on a daily basis is a hugely complex task. Testing the new technology is vital, and we must take the time required to ensure this is done thoroughly.

"The IUA’s member companies want certainty that the end product will be reliable and efficient. We are pleased that the market’s work is strongly focussed on achieving the milestones required to ensure that a final live switchover will be successful. In parallel, our existing processing infrastructure must remain fit for purpose and subject to continued assessment.

“The IUA remains fully involved in all aspects of the project’s governance and management and remains committed to working with Velontic, other market bodies and our member companies to drive this necessary change.”

Ends

Contact:
Scott Farley
Director of Communications
International Underwriting Association
Tel: 0207 617 4449
Mobile: 07921 699 218
E-mail: [email protected]

Notes to Editors:
About the IUA
The International Underwriting Association of London (IUA) is the representative body for companies in London providing international and wholesale insurance and reinsurance coverage. Its mission statement is to secure an optimal trading environment for London insurance companies.