The new hire will oversee market performance and distribution

Lloyd’s of London has appointed Patrick Tiernan, currently Aviva’s managing director of UK commercial lines and global corporate and speciality, as its chief of markets – a newly created role.

Upon joining Lloyd’s, Tiernan will oversee overall market performance and distribution.

Tiernan has 24 years of industry experience. His previous roles include chief financial officer at Aviva, group chief operating officer at Starstone Insurance and chief executive of centrally managed businesses at Zurich.

He is also the chairman of the International Underwriting Association (IUA) and sits on the London Market Group’s board of directors.

In addition, Tiernan sits on the board of ClimateWise, part of the University of Cambridge, and is part of the Innovation Working Group of the Bank of England’s Climate Financial Risk Forum.

Speaking on the appointment, John Neal, chief executive of Lloyd’s, said: “I’m thrilled that Patrick will be joining Lloyd’s in this newly created role.

“As a highly regarded industry executive with leadership experience across business and financial management, Patrick joins Lloyd’s at an exciting time.

“Our overarching priorities of performance, digitalisation, culture, together with a new ‘purpose’ pillar, are paramount and drive everything we do in the corporation and across the market.

“Patrick will progress these priorities to deliver the impact and results we need right across the market from customer and distribution, through to underwriting business and oversight.”