Patrick Tiernan to succeed John Neal as chief executive of Lloyd’s of London from 1 June 2025.
Lloyd’s has announced the appointment of Patrick Tiernan as its next chief executive officer, effective 1 June 2025, subject to regulatory approval.
Tiernan (pictured) currently serves as chief of markets at Lloyd’s, a role he has held since May 2021 after joining the three-centuries-old London insurance and reinsurance subscription market from Aviva.
Tiernan will succeed John Neal as Lloyd’s CEO, who is stepping down after seven years to take up a senior role at re/insurance broker Aon.
As chief of markets, Tiernan has overseen underwriting, claims, exposure management, market oversight, international regulation, distribution, and innovation initiatives including Lloyd’s Lab and Lloyd’s Academy.
His nearly 30-year career in insurance includes senior roles at Aviva, StarStone and Zurich, as well as serving as a former chair of the International Underwriting Association of London (IUA).
“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,” said Sir Charles Roxburgh, chair of Lloyd’s.
“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.
“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,” he said.
Tiernan responded: “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.”
Tiernan is a chartered accountant, a fellow of the ICAEW, and holds a bachelor’s degree in business and law from University College Dublin.
His appointment follows a period of leadership transition at Lloyd’s, with Sir Charles Roxburgh assuming the role of chair in May 2024.
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