Hearn, who is also deputy CEO of Willis Group, said the LMG would work with its membership to speak with a common voice for the insurance market government and regulators.
Other objectives would be promoting talent and diversity among employers, and commissioning customer-focused research to make the market more attractive, he said, speaking at Willis' London headquarters this morning.
"Why don't we use the fact that we are all gathered around the LMG table to unify our messages?" asked Hearn.
"If London's position as a global centre is being questioned, and our position as a major sector within that centre is also under threat, we need to respond," he said.
The LMG represents the memberships of the International Underwriting Association, the Lloyd’s Market Association (LMA), and the London and International Insurance Brokers’ Association (LIBA).
“And let me emphasise that this is not a royal “we”. I will need your ideas; your support; and your contribution if any of this is to go somewhere and deliver the sorts of outcomes I think we need,” added Hearn.