Marie-Louise Rossi Exits IUA For Parliament Bid

Ms. Rossi was appointed chief executive of LIRMA (the London International Insurance and Reinsurance Market Association) in 1993. She retained the post when LIRMA merged with the ILU ( Institute of London Underwriters) to form the IUA on Jan. 1, 1999.

Her success in managing the merger drew national trade press recognition at the time.

Under U.K. election rules, Ms Rossi cannot presently begin a formal bid for a seat in the next general election, now widely expected to be held in May.

She is seen as a prospective candidate for the Liberal Democrats in the Westminster and City district of London.

Ms. Rossi in announcing her decision said, "After more than eleven exciting years at LIRMA and then the IUA, I feel it is time to move on. I may, however, return to the market at some future date."

IUA chairman Tony Medniuk said Ms. Rossi's achievements "on behalf of the company market speak for themselves, first in getting LIRMA established, then in making the IUA a dynamic and innovative organization. We and the market have many reasons to be grateful to Marie-Louise and wish her every success in her future career."

Ms Rossi said her departure was well-timed as the Reinsurance Directive, currently going through the European Parliament, has gained widespread acceptance and is almost certain to be agreed on in 2005.

She noted that, "One of the reasons for LIRMA was to lobby for completion of the single market in reinsurance. This is now on the verge of being achieved, and I am pleased to be able to report on the successful delivery of this important project."

IUA said its board will announce her successor shortly. IUA represents international and wholesale insurance and reinsurance companies. It lists its mission as protecting and strengthening "the business environment for its member companies operating in or through London."