Lloyd’s on Thursday announced the appointment of Patrick Tiernan as its new Chief Executive Officer (CEO), effective 1 June 2025, succeeding John Neal in the role.
Tiernan joined Lloyd’s in May 2021 as its first Chief of Markets, overseeing underwriting, claims, exposure management, international regulation, distribution, and strategy for new market entrants.
He brings nearly 30 years of experience in the insurance industry, having held senior roles at Aviva, StarStone Insurance, and Zurich.
“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,” said Sir Charles Roxburgh, Chair of Lloyd’s. “The search process demonstrated to me and my colleagues on the Lloyd’s Council that he was the outstanding candidate for this role.”
Speaking on his new appointment, Tiernan said it was an “immense privilege” to be chosen as the next Chief Executive of Lloyd’s, adding that his primary focus will be to support the commercial success of the business’s market participants while keeping an “iron grip” on underwriting discipline and safeguarding the financial strength of the business.
“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 added.
Roxburgh also acknowledged the contributions of outgoing CEO John Neal, who led Lloyd’s through a period of strong financial performance, stating, “His efforts have helped Lloyd’s deliver a major turnaround in performance resulting in successive years of strong financial results.”
Tiernan is a Chartered Accountant and a fellow of the ICAEW, with a Bachelor’s degree in Business & Law from University College Dublin.
His appointment remains subject to approval from the Prudential Regulation Authority and the Financial Conduct Authority.
