The Council of Lloyd’s has appointed Patrick Tiernan as the next chief executive officer, effective June 1, pending regulatory approval. John Neal will complete his term as CEO on May 31.
Tiernan joined Lloyd’s in May 2021 as its first chief of markets.
In this role, he oversaw underwriting, claims, exposure management, market oversight, international regulation, distribution, new entrant strategy, the Lloyd’s Global Network, Lloyd’s Lab, Lloyd’s Academy, and Lloyd’s global agents.
As the Chief of Markets at Lloyd’s, I’m part of the executive leadership of the world’s leading marketplace for insurance and reinsurance.
Patrick Tiernan, Chief Executive Officer
“I lead the Lloyd’s commercial strategy, with responsibility for principle-based oversight of the entire Lloyd’s market. I also oversee Lloyd’s global market development and crisis management, and lead on innovation and education at Lloyd’s through the Lloyd’s Lab and the Lloyd’s Academy,” Patrick Tiernan said.
Tiernan brings nearly 30 years of experience in the insurance sector. Prior to joining Lloyd’s, he held senior positions at Aviva, including managing director of commercial lines and global corporate and specialty, as well as chief financial officer of Aviva Insurance Limited.
I joined Lloyd’s as Chief of Markets in 2021, combining the previous roles of Performance Director and Chief Commercial Officer.
He also served as chief operating officer of StarStone Insurance and CEO of Zurich’s centrally managed businesses.
Patrick Tiernan – Nominated member, Chief Executive Officer, Chief of Markets
Member of Technology & Transformation Committe.
Patrick has been part of the Lloyd’s senior leadership since 2021, when he joined as Chief of Markets, combining the previous roles of Performance Director and Chief Commercial Officer.
As Chief of Markets, Patrick led Lloyd’s commercial strategy and was responsible for the principles-based oversight of the entire Lloyd’s market, including underwriting, governance, reserving and culture. Patrick also oversaw Lloyd’s global market development as well as crisis management in response to issues like Ukraine and all natural and man-made disasters.
He has served as the market’s ambassador to governments and regulators around the world, growing the credibility of the Lloyd’s marketplace to support insurers in both obtaining and maintaining licenses and ratings.
Innovation has been one of the hallmarks of his tenure as Chief of Markets. He has been responsible for innovation and education at Lloyd’s through the Lloyd’s Lab and the Lloyd’s Academy.
An insurance industry veteran, Patrick’s almost 30 years’ experience includes a period at Aviva as Managing Director of Commercial Lines & Global Corporate & Specialty (2018-21) and Chair of the IUA. Other notable roles include CFO of Aviva Insurance (2017-18), COO of StarStone Group (2014-17) and CEO of Zurich’s Centrally Managed Businesses (2011-13).
Patrick is a Chartered Accountant, a fellow of the ICAEW and holds a Bachelor’s Degree in Business and Law from University College Dublin. His hobbies include rugby, sailing and fly-fishing.
