Patrick Tiernan has been appointed as Chief Executive Officer (CEO) by the Council of Lloyd’s, the world’s leading marketplace for insurance and reinsurance. Patrick will commence his tenure as Lloyd’s new CEO on 1 June 2025.

According to the company’s press release, Patrick joined Lloyd’s in May 2021 as the organisation’s first Chief of Markets, responsible for underwriting, claims, exposure management, market oversight and international regulation, distribution, new entrant strategy, Lloyd’s Global Network, Lloyd’s Lab, Lloyd’s Academy and Lloyd’s global agents.

“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. The search process demonstrated to me and my colleagues on the Lloyd’s Council that he was the outstanding candidate for this role. I look forward to working with him, and with all of our market participants, to ensure the future success of Lloyd’s”, said Sir Charles Roxburgh, Chair of Lloyd’s. “I would like to express my gratitude to John Neal for his leadership over the past seven years. His efforts have helped Lloyd’s deliver a major turnaround in performance resulting in successive years of strong financial results, and ensured the organisation is now in the best position possible to make the most of future opportunities”, Chair of Lloyd’s added.

“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 and look forward to adding another successful chapter to the history of this storied institution”, commented Patrick Tiernan, Lloyd’s CEO-designate. “Throughout its long history, Lloyd’s has had an outsized impact on the global insurance industry. I am deeply aware of the responsibility this confers on its leaders, and I intend to protect the profitability, ingenuity and integrity of this great organisation”, Patrick Tiernan said.