The April 1993 Lloyd's Business Plan envisaged the establishment of a single Additional Underwriting Agency (AUA) operated by the Central Services Unit, now Market Services, to handle the affairs of "resigned Names who have reason to be seriously dissatisfied with their current agent, or whose old agent is insolvent".  It would be based on existing AUA's and would provide "an enhanced level of service".  

Following a proposal to the Lloyd's Market Board on 26th October 1993, Additional Underwriting Agencies (No. 8) Ltd was re-named Lloyd's Members Agency Services Limited in December 1993 and commenced its own operations, as an Independent Members’ Agency, at the same time.  It grew from a standing start to take 4,500 Names through R & R and had a maximum staff level of 47 early in 1996, reducing to 12 in 1998.

At its peak LMAS took over 10,000 Names through the Lloyd’s R & R process.  LMAS currently looks after 4,553 Names with open/run-off participations, including 53 Nameco's, 43 SLP/Corporate Names and 1 Group conversion vehicle.  Of the 4,553 Names, 2,095 are EXEAT policy holders with open/run-off participations.  Every agency, currently in the Lloyd’s Market, has transferred Run-Off Names to LMAS. 

The Board of LMAS monitors performance against service standards which include replying to correspondence within one week and answering telephone calls within 24 hours. 

The ALM has been very complimentary about the services provided by LMAS and wrote saying that they had received "numerous complimentary comments from Names who have been transferred to LMAS" and that the "staff have been commended for their knowledge and helpfulness by Names".