Lloyd's Names Patrick Tiernan as Next Chief Executive Officer

Lloyd's has announced the appointment of Patrick Tiernan as its new chief executive officer, effective June 1, 2025. The Council of Lloyd's selected Mr. Tiernan following a formal search process, and his appointment remains subject to regulatory approval from the Prudential Regulation Authority and the Financial Conduct Authority.

Mr. Tiernan has served as Lloyd's first chief of markets since May 2021, overseeing key operational areas including underwriting, claims, international regulation, distribution, and market oversight. His role also included leadership of strategic initiatives such as Lloyd's Global Network, Lloyd's Lab, and Lloyd's Academy.

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."

Prior to joining Lloyd's, Mr. Tiernan held senior positions at Aviva, including managing director of commercial lines and global corporate and specialty, and chief financial officer of Aviva Insurance Limited. He previously served as chief operating officer at StarStone Insurance and CEO of Zurich's Centrally Managed Businesses. Mr. Tiernan is a chartered accountant, a fellow of the Institute of Chartered Accountants in England and Wales, and holds a degree in business and law from University College Dublin.

"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," Mr. Tiernan said.

He also thanked current and past Lloyd's leaders, including Chair Bruce Carnegie-Brown, outgoing CEO John Neal, and Chief Financial Officer Burkhard Keese. "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."

Mr. Neal, who has served as CEO since 2018, will step down on May 31, 2025. Mr. Roxburgh said, "I would like to express my gratitude to John Neal for his leadership over the past 7 years. His efforts have helped Lloyd's deliver a major turnaround in performance, resulting in successive years of strong financial results."