At the end of his first month in charge, Richard Ward, has announced his first initiative since being crowned chief executive of Lloyd's.

He proudly announced in a public letter to the market: "I am now proposing that Lloyd's moves quickly to implement a new approach to the contract documentation process which will improve efficiency and client service."

His attempt to grapple with the industry's major bugbear, contract certainty, has impressed most market leaders.

But it seems not all are as impressed.

One member of market efficiency pioneers, G6, grumbled: "This is actually a G6 project. We were going to put out a press release, but when we found out Richard Ward was sending out a letter, we decided to wait."

With little more than a passing mention in the penultimate paragraph, Ward has certainly stolen G6's thunder .

But a hastily written press release was sent out by the group within hours to acknowledge the chief exec's "full support".