Lloyd’s, the top global marketplace for insurance and reinsurance, has announced several key appointments in its executive team. Headquartered in London, Lloyd’s is known for its role in managing global risk. The changes aim to strengthen leadership and improve market performance.
Rachel Turk has been appointed as the chief of market performance. She will take over the underwriting duties from the previous chief of markets, pending regulatory approval. In this new role, she will also lead the Lloyd’s Capital Planning Group.
Caroline Sandeman-Allen joins the executive team as the chief of market oversight. She will oversee the responsibilities previously held by the chief of markets, also subject to regulatory approval. Her appointment highlights the growing importance of Lloyd’s oversight framework. She will chair the Lloyd’s Market Oversight Group.
Jonathan May has been named CEO of Lloyd’s Insurance Company, which supports Lloyd’s underwriting activities in Europe. This role is crucial for enhancing governance within the corporation and acknowledges the significance of Lloyd’s European operations.
Dawn Miller continues as chief commercial officer and CEO for the Americas. In addition to her current responsibilities, she will now oversee corporate affairs and chair the Lloyd’s Business Opportunities Committee.
Other executives remain in their current positions. Alexandra Cliff continues as chief financial officer, Nathan Adams as chief people officer, Claire Schrader as general counsel, and David Sansom as chief risk officer. George Marcotte will remain as interim chief operations officer while a permanent replacement is sought.
The new executive team will report directly to Patrick Tiernan, who is the chief executive of Lloyd’s. In a statement, Tiernan expressed his enthusiasm for the new appointments, emphasizing their commitment to achieving the market’s short-term goals and developing a long-term vision for the corporation. He believes this team has the right mix of skills and experience to support the market’s success.
These changes come at a time when Lloyd’s aims to reinforce its position as the leading marketplace for global risk. The appointments reflect a strategic focus on market performance and oversight, crucial for navigating the evolving landscape of insurance and reinsurance.