Geoffrey Lynch has retired as chairman of the London Market Political Risks Business Panel after two decades in the role.

The Panel was created in 1985 by the Lloyds’ Underwriters Non Marine Association (NMA), a former constituency of the present Lloyd’s Market Association, as a representational platform for the political risks market.

Over the years, the panel has addressed issues of policy coverage and regulation and as a result of its work, the market is better able to insure political, trade, credit and war on land risks. Currently, the panel is considering issues including those arising from the Basel II regime for banks.

He has been succeeded as chairman by David Wright, practice leader for war and political risks at XL Capital group.