IUA represents companies that trade in the London insurance market outside Lloyd’s. They include branches or subsidiaries of nearly all the world’s largest international insurance and reinsurance companies. The IUA provides a forum for discussing market issues and providing technical support to practitioners. IUA members collectively own a 25% share of Xchanging Ins-sure Services (XIS), the provider of back office processing services to the London market. The IUA was formed in January 1998 from the merger of the London International Insurance and Reinsurance Market Association (LIRMA) and the Institute of London Underwriters (ILU). 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. The association has always made reform of the London market a top priority, especially the replacement of out-of-date processes and increased use of technology to conduct business. This led in 1999 to the creation of the IUA-Lloyd’s Forum. This soon expanded to include brokers and eventually evolved into the London Market Group, which is still active today.