Lloyd's has published an interview with the new Chairman John Nelson available here outlining three main challenges of 2012:

1) maintaining underwriting discipline;
2) achieving implementation of Solvency II by 1 January 2013;
3) accelerating progress on market modernisation.

Amongst other things, he says that his priorities are to build upon the existing strengths of Lloyd's and to increase Lloyd's international footprint by pulling in business and investment from high growth economies so that Lloyd's remains the centre of worldwide specialist insurance. Working with the Government and regulators, he says will be an important part of his job.

"There are tremendous opportunities for Lloyd’s over the next decade or two. I look forward to working closely with the Corporation, the market and the brokers to make the very most of them." he concludes.