Lloyd’s has appointed Patrick Tiernan as CEO, with his tenure set to begin on 1 June.
Tiernan, selected by the Council of Lloyd’s, succeeds current CEO John Neal, who has held the post since 2018.
He currently serves as Lloyd’s chief of markets, a role he took up in May 2021, where he oversees underwriting, claims, market oversight, international regulation and innovation initiatives including Lloyd’s Lab and Lloyd’s Academy.
Tiernan brings nearly three decades of experience in the insurance sector, including senior leadership positions at Aviva, StarStone Insurance and Zurich.
He is a chartered accountant and fellow of the Institute of Chartered Accountants in England and Wales, and holds a degree in business and law from University College Dublin.
Sir Charles Roxburgh, chair of Lloyd’s, says Tiernan is “the outstanding candidate” and praises his “commercial acumen and industry expertise” as key to leading Lloyd’s next phase of strategic development.
Roxburgh also thanks John Neal for delivering a major turnaround in performance and helping Lloyd’s achieve successive years of strong financial results.
Tiernan says he is honoured to be appointed and committed to maintaining underwriting discipline while supporting the commercial success of market participants.
“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,” Tiernan adds.
