Lloyd’s, headquartered in London, the world’s leading marketplace for insurance and reinsurance market for global risk, made several new appointments and updates to its executive team.
Rachel Turk is appointed as chief of market performance and will join the Council of Lloyd’s. Turk will assume the underwriting responsibilities of the former chief of markets role, subject to regulatory approval. She will also chair Lloyd’s Capital Planning Group (CPG).
Caroline Sandeman-Allen is appointed to the executive team as chief of market oversight and will assume the oversight responsibilities of the former chief of markets role, subject to regulatory approval. This appointment reflects the increasing importance of Lloyd’s principles-based oversight framework. She will also chair Lloyd’s Market Oversight Group (MOG).
Jonathan May is appointed to the executive team as CEO of Lloyd’s Insurance Company (LIC), the wholly owned subsidiary of Lloyd’s that facilitates Lloyd’s underwriting activity in the European economic area. This appointment will strengthen governance of the Corporation and recognizes the importance of Lloyd’s European business.
Dawn Miller continues in her role as chief commercial officer and CEO, Americas. In addition to her existing roles, she will assume responsibility for the corporate affairs function. She will also chair Lloyd’s Business Opportunities Committee (BOC)
The existing roles and responsibilities of Alexandra Cliff as chief financial officer and Lloyd’s Council member, Nathan Adams as chief people officer, Claire Schrader as general counsel and David Sansom as chief risk officer, remain unchanged.
George Marcotte will continue to serve as interim chief operations officer while the corporation seeks a permanent appointment.
The executive team will report directly to Patrick Tiernan, Lloyd’s chief executive.
Commenting on the appointments, Tiernan said, “I am pleased to announce the appointments to my Executive Team. We will work at pace to deliver on the market’s short-term priorities. We will also work closely with Council to develop a long-term vision for the Corporation, that will strengthen and extend Lloyd’s leadership as the world’s pre-eminent marketplace for risk.
“This group has the right mix of skills, experience and focus to ensure that we remain true to our mandate of supporting and stewarding the market to commercial success. As a team, we will work tirelessly to deliver for all our stakeholders.”
Topics Excess Surplus Lloyd’s