Lloyd’s of London is recruiting a new general counsel for US regulatory affairs in New York.
Joseph Gunset is joining from insurance giant AIG where he was vice-president and general counsel for the warranty products division.
At Lloyd’s he will be responsible for the management of US licensing and trade regulations. He will be the primary contact for communication with US insurance regulators and will report to Julian James, the managing director of Lloyd’s US operations.
Gunset replaces Al Skweirtz, who left Lloyd’s in New York earlier this year to join Swiss Reinsurance in Zurich.
James says that Gunset’s appointment could herald a shake-up of the company’s legal arrangements in the US because Gunset is the only US-based lawyer in the company and LeBoeuf Lamb Greene & MacRae the primary external advisers.
James says: “The immediate plan is not to change our existing relationship with LeBoeuf Lamb. But part of Joe’s responsibility will be managing our outside legal relationships and if he feels that there are efficiencies to be made we will look at that.
“It is vital for Lloyd’s to have an easily accessible US presence, and with Joe’s in-depth knowledge and understanding of US insurance regulation we will continue to develop and strengthen our partnership with the regulatory community.”