REG - Lloyds Of London - Patrick Tiernan appointed as Lloyd’s CEO
Today 09:45
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RNS Number : 8572H Lloyds Of London 08 May 2025
***EMBARGOED UNTIL 0830 BST 08 MAY 2025***
Patrick Tiernan appointed as Lloyd's CEO
Lloyd's, the world's leading marketplace for insurance and reinsurance, has
today announced that Patrick Tiernan has been appointed as Chief Executive
Officer (CEO) by the Council of Lloyd's.
Patrick will commence his tenure as Lloyd's new CEO on 1 June 2025.
Patrick joined Lloyd's in May 2021 as the organisation's first Chief of
Markets, responsible for underwriting, claims, exposure management, market
oversight and international regulation, distribution, new entrant strategy,
Lloyd's Global Network, Lloyd's Lab, Lloyd's Academy and Lloyd's global
agents.
He brings a wealth of experience as an insurance executive with a successful
track record built up over nearly 30 years. Before joining Lloyd's, Patrick
held a number of senior roles at Aviva, including Managing Director of
Commercial Lines & Global Corporate & Specialty, and Chief Financial
Officer of Aviva Insurance Limited. Previous to this he was the Chief
Operating Officer of StarStone Insurance and Chief Executive Officer of
Zurich's Centrally Managed Businesses. He is a Chartered Accountant, a fellow
of the ICAEW and holds a Bachelor's degree in Business & Law from
University College Dublin.
Sir Charles Roxburgh, Chair of Lloyd's, said: "My first priority has been to
appoint a new Chief Executive and I am therefore delighted that Patrick will
be leading Lloyd's in the next stage of its strategic development. Patrick's
profound understanding of the market, coupled with his commercial acumen and
industry expertise will ensure Lloyd's continues to focus on delivering
consistent and disciplined performance. The search process demonstrated to me
and my colleagues on the Lloyd's Council that he was the outstanding candidate
for this role. I look forward to working with him, and with all of our market
participants, to ensure the future success of Lloyd's.
"I would like to express my gratitude to John Neal for his leadership over the
past seven years. His efforts have helped Lloyd's deliver a major turnaround
in performance resulting in successive years of strong financial results, and
ensured the organisation is now in the best position possible to make the most
of future opportunities."
Patrick Tiernan, Lloyd's CEO-designate, said: "It is an immense privilege to
be chosen as the next Chief Executive of Lloyd's. I am excited to lead such a
talented and dedicated group of people. I have strong confidence in what we
can achieve together and look forward to adding another successful chapter to
the history of this storied institution.
"I would like to express my gratitude to Charles and the Council for their
faith in me. I also want to thank Bruce Carnegie-Brown, John Neal and Burkhard
Keese for leaving the market in such robust health.
"My primary focus will be supporting the commercial success of our market
participants while keeping an iron grip on underwriting discipline and
safeguarding the financial strength of the Corporation.
"We will work at pace to spur innovation, deliver an open and efficient model
that accentuates the unique advantages of the Lloyd's network, and foster an
inclusive culture that attracts the best talent from around the world.
"Throughout its long history, Lloyd's has had an outsized impact on the global
insurance industry. I am deeply aware of the responsibility this confers on
its leaders, and I intend to protect the profitability, ingenuity and
integrity of this great organisation."
Patrick's appointment is subject to approval and consent from the Prudential
Regulation Authority and the Financial Conduct Authority.
***EMBARGOED UNTIL 0830 BST 08 MAY 2025***
Patrick Tiernan appointed as Lloyd's CEO
Lloyd's, the world's leading marketplace for insurance and reinsurance, has
today announced that Patrick Tiernan has been appointed as Chief Executive
Officer (CEO) by the Council of Lloyd's.
Patrick will commence his tenure as Lloyd's new CEO on 1 June 2025.
Patrick joined Lloyd's in May 2021 as the organisation's first Chief of
Markets, responsible for underwriting, claims, exposure management, market
oversight and international regulation, distribution, new entrant strategy,
Lloyd's Global Network, Lloyd's Lab, Lloyd's Academy and Lloyd's global
agents.
He brings a wealth of experience as an insurance executive with a successful
track record built up over nearly 30 years. Before joining Lloyd's, Patrick
held a number of senior roles at Aviva, including Managing Director of
Commercial Lines & Global Corporate & Specialty, and Chief Financial
Officer of Aviva Insurance Limited. Previous to this he was the Chief
Operating Officer of StarStone Insurance and Chief Executive Officer of
Zurich's Centrally Managed Businesses. He is a Chartered Accountant, a fellow
of the ICAEW and holds a Bachelor's degree in Business & Law from
University College Dublin.
Sir Charles Roxburgh, Chair of Lloyd's, said: "My first priority has been to
appoint a new Chief Executive and I am therefore delighted that Patrick will
be leading Lloyd's in the next stage of its strategic development. Patrick's
profound understanding of the market, coupled with his commercial acumen and
industry expertise will ensure Lloyd's continues to focus on delivering
consistent and disciplined performance. The search process demonstrated to me
and my colleagues on the Lloyd's Council that he was the outstanding candidate
for this role. I look forward to working with him, and with all of our market
participants, to ensure the future success of Lloyd's.
"I would like to express my gratitude to John Neal for his leadership over the
past seven years. His efforts have helped Lloyd's deliver a major turnaround
in performance resulting in successive years of strong financial results, and
ensured the organisation is now in the best position possible to make the most
of future opportunities."
Patrick Tiernan, Lloyd's CEO-designate, said: "It is an immense privilege to
be chosen as the next Chief Executive of Lloyd's. I am excited to lead such a
talented and dedicated group of people. I have strong confidence in what we
can achieve together and look forward to adding another successful chapter to
the history of this storied institution.
"I would like to express my gratitude to Charles and the Council for their
faith in me. I also want to thank Bruce Carnegie-Brown, John Neal and Burkhard
Keese for leaving the market in such robust health.
"My primary focus will be supporting the commercial success of our market
participants while keeping an iron grip on underwriting discipline and
safeguarding the financial strength of the Corporation.
"We will work at pace to spur innovation, deliver an open and efficient model
that accentuates the unique advantages of the Lloyd's network, and foster an
inclusive culture that attracts the best talent from around the world.
"Throughout its long history, Lloyd's has had an outsized impact on the global
insurance industry. I am deeply aware of the responsibility this confers on
its leaders, and I intend to protect the profitability, ingenuity and
integrity of this great organisation."
Patrick's appointment is subject to approval and consent from the Prudential
Regulation Authority and the Financial Conduct Authority.
ENDS
Notes to Editors
· John Neal will finish his term as Lloyd's CEO on 31 May 2025.
Enquiries to: pressoffice@lloyds.com
About Lloyd's
Lloyd's is the world's leading marketplace for insurance and reinsurance.
Through the collective intelligence and expertise of the market's underwriters
and brokers, we're sharing risk to create a braver world.
The Lloyd's market offers the resources, capability, and insight to develop
new and innovative products for customers in any industry, on any scale, in
more than 200 territories.
We're made up of more than 50 leading insurance companies, over 380 registered
Lloyd's brokers and a global network of over 4,000 local coverholders. Behind
the Lloyd's market is the Corporation: an independent organisation and
regulator working to maintain the market's successful reputation and
operation.
Lloyd's One Lime Street Telephone: +44 (0)20 7327 1000
London EC3M 7HA Fax: +44 (0)20 7627 2389
Website: lloyds.com
(http://https:/reaction2.lloyds.com/reaction/Link/Click?ct=5C8069149BE346E0CDD987AF9E2C951DDBFB2&t=1)
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
***EMBARGOED UNTIL 0830 BST 08 MAY 2025***
Patrick Tiernan appointed as Lloyd's CEO
Lloyd's, the world's leading marketplace for insurance and reinsurance, has
today announced that Patrick Tiernan has been appointed as Chief Executive
Officer (CEO) by the Council of Lloyd's.
Patrick will commence his tenure as Lloyd's new CEO on 1 June 2025.
Patrick joined Lloyd's in May 2021 as the organisation's first Chief of
Markets, responsible for underwriting, claims, exposure management, market
oversight and international regulation, distribution, new entrant strategy,
Lloyd's Global Network, Lloyd's Lab, Lloyd's Academy and Lloyd's global
agents.
He brings a wealth of experience as an insurance executive with a successful
track record built up over nearly 30 years. Before joining Lloyd's, Patrick
held a number of senior roles at Aviva, including Managing Director of
Commercial Lines & Global Corporate & Specialty, and Chief Financial
Officer of Aviva Insurance Limited. Previous to this he was the Chief
Operating Officer of StarStone Insurance and Chief Executive Officer of
Zurich's Centrally Managed Businesses. He is a Chartered Accountant, a fellow
of the ICAEW and holds a Bachelor's degree in Business & Law from
University College Dublin.
Sir Charles Roxburgh, Chair of Lloyd's, said: "My first priority has been to
appoint a new Chief Executive and I am therefore delighted that Patrick will
be leading Lloyd's in the next stage of its strategic development. Patrick's
profound understanding of the market, coupled with his commercial acumen and
industry expertise will ensure Lloyd's continues to focus on delivering
consistent and disciplined performance. The search process demonstrated to me
and my colleagues on the Lloyd's Council that he was the outstanding candidate
for this role. I look forward to working with him, and with all of our market
participants, to ensure the future success of Lloyd's.
"I would like to express my gratitude to John Neal for his leadership over the
past seven years. His efforts have helped Lloyd's deliver a major turnaround
in performance resulting in successive years of strong financial results, and
ensured the organisation is now in the best position possible to make the most
of future opportunities."
Patrick Tiernan, Lloyd's CEO-designate, said: "It is an immense privilege to
be chosen as the next Chief Executive of Lloyd's. I am excited to lead such a
talented and dedicated group of people. I have strong confidence in what we
can achieve together and look forward to adding another successful chapter to
the history of this storied institution.
"I would like to express my gratitude to Charles and the Council for their
faith in me. I also want to thank Bruce Carnegie-Brown, John Neal and Burkhard
Keese for leaving the market in such robust health.
"My primary focus will be supporting the commercial success of our market
participants while keeping an iron grip on underwriting discipline and
safeguarding the financial strength of the Corporation.
"We will work at pace to spur innovation, deliver an open and efficient model
that accentuates the unique advantages of the Lloyd's network, and foster an
inclusive culture that attracts the best talent from around the world.
"Throughout its long history, Lloyd's has had an outsized impact on the global
insurance industry. I am deeply aware of the responsibility this confers on
its leaders, and I intend to protect the profitability, ingenuity and
integrity of this great organisation."
Patrick's appointment is subject to approval and consent from the Prudential
Regulation Authority and the Financial Conduct Authority.
ENDS
Notes to Editors
· John Neal will finish his term as Lloyd's CEO on 31 May 2025.
Enquiries to: pressoffice@lloyds.com
About Lloyd's
Lloyd's is the world's leading marketplace for insurance and reinsurance.
Through the collective intelligence and expertise of the market's underwriters
and brokers, we're sharing risk to create a braver world.
The Lloyd's market offers the resources, capability, and insight to develop
new and innovative products for customers in any industry, on any scale, in
more than 200 territories.
We're made up of more than 50 leading insurance companies, over 380 registered
Lloyd's brokers and a global network of over 4,000 local coverholders. Behind
the Lloyd's market is the Corporation: an independent organisation and
regulator working to maintain the market's successful reputation and
operation.
Lloyd's One Lime Street Telephone: +44 (0)20 7327 1000
London EC3M 7HA Fax: +44 (0)20 7627 2389
Website: lloyds.com
(http://https:/reaction2.lloyds.com/reaction/Link/Click?ct=5C8069149BE346E0CDD987AF9E2C951DDBFB2&t=1)
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
The information in the E-Mail and in any attachments is CONFIDENTIAL and may
be privileged. If you are NOT the intended recipient, please destroy this
message and notify the sender immediately. You should NOT retain, copy or use
the E-Mail for any purpose, nor disclose all or any part of the contents to
any other person or persons.
Any views expressed in this message are those of the individual sender, EXCEPT
where the sender specifically states them to be the views of Lloyd's.
Lloyd's may monitor the content of E-Mails sent and received via its network
for viruses or unauthorised use and for other lawful business purposes.
Lloyd's is a registered trade mark of the Society of Lloyd's. Lloyd's is
authorised under the Financial Services and Markets Act 2000. Lloyd's
copyright 2022.
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