Patrick Tiernan, CEO-designate, Lloyd’s
“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”Patrick Tiernan, CEO-designate, Lloyd’s
London: 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 will succeed John Neal who quit Lloyd’s to join Aon. Neal will finish his term as Lloyd’s CEO on 31 May 2025 and will join
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.”
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.
“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.