As of 2009[update], members of the association wrote a total of at least £10 billion premium, a figure that does not include income processed outside the London market bureau.
[3] The main stated reason for the merger was the desire to give the London company market a single voice in dealings with government, regulators and other insurance bodies.
[4] The association has always made reform of the London market a top priority, especially the replacement of out-of-date processes and increased use of technology to conduct business.
In 2009, the association set itself four strategic priorities:[7] The IUA holds regular lunchtime briefings and organises a number of events, most notably an annual catastrophe modelling conference, which normally attracts an international cast of speakers and delegates.
These are populated overwhelmingly by market practitioners with the full-time IUA secretariat providing administrative support and implementing decisions (see chart).
These committees responsibilities include for overseeing and supporting: the IUA's contribution to the London market modernisation programme; discussion with regulators and legislators and communicating the implications of regulatory changes to the membership; education, training and research; and technical matters relating to underwriting and claims, including specialist classes of insurance and reinsurance.