Lloyd’s of London Appoints Patrick Tiernan as New CEO
Reinsurance marketplace Lloyd’s has announced the appointment of Patrick Tiernan as its new CEO, effective 1 June 2025. The decision was made by the Council of Lloyd’s, pending approval from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Prior to this appointment, Tiernan served as the chief of markets at Lloyd’s, a position he has held since May 2021. In this role, he was responsible for overseeing underwriting, claims, market oversight, and managing Lloyd’s Global Network.
With a wealth of experience in the insurance industry, Tiernan previously held key positions at Aviva, StarStone Insurance, and Zurich. His background includes roles as the managing director of commercial lines & global corporate & specialty at Aviva, chief financial officer of Aviva Insurance, chief operating officer of StarStone Insurance, and CEO of Zurich’s Centrally Managed Businesses.
Sir Charles Roxburgh, chair of Lloyd’s, praised Tiernan’s expertise, stating: “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.”
Expressing his goals as the new CEO, Tiernan said: “My primary focus will be supporting the commercial success of our market participants while maintaining underwriting discipline and safeguarding the financial strength of the Corporation. We will work swiftly to drive innovation, create an open and efficient model that highlights the unique advantages of the Lloyd’s network, and promote an inclusive culture that attracts top talent globally.”
The current CEO, John Neal, will be stepping down from his role at Lloyd’s on 31 May 2025. Neal is set to join Aon, where he will take on the positions of global chairman of Climate Solutions and global CEO of the Reinsurance division.
This article was originally published by Life Insurance International.
