Specialist insurance and reinsurance marketplace Lloyd’s has announced a number of changes to its Executive Committee, including the appointment of Bob James as Chief Operations Officer (COO).
Previously Lloyd’s Market Transformation Director, James will now focus on aligning the Blueprint Two programme with the wider Corporation Operations function.
Meanwhile, Burkhard Keese, who took on COO duties following the departure of Jennifer Rigby in January 2022, will continue in his role as Chief Financial Officer, with a focus on growing the Lloyd’s Investment Platform and risk transformation vehicle London Bridge to attract new capital providers.
James has over 30 years of experience in roles covering underwriting, technology, sales, marketing, banking advisory and operations, having begun his career in the Operations function at Allstate Insurance in the US.
During his career, he has also served as COO for CNA Commercial Insurance and for QBE North America, and was the Executive Vice President for MGA Operations and Chief Human Resources Officer at private equity sponsored intermediary, The Amynta Group.
In addition to the aforementioned movements, Lloyd’s further announced that Deputy CFO Alex Cliff will join its Executive Committee with immediate effect, reporting to Keese.
Cliff joined Lloyd’s in November 2022 and has over 20 years of experience in the insurance industry, having held senior finance roles in insurance and broking firms including Direct Line Group, StarStone and AJ Gallagher. She is a Chartered Accountant, and spent eight years at PwC in both London and the US
“As a result of Bob’s strong leadership, the Blueprint Two programme is making steady progress in our drive towards market digitalisation, enabling him to now extend his remit to Lloyd’s Operations function,” said Lloyd’s CEO John Neal of the appointments.
“I am grateful for Burkhard’s support in leading Operations over the past 14 months, and am equally delighted that Deputy CFO Alex Cliff will bring her insight and experience to Lloyd’s Executive Committee,” Neal added.
Lloyd’s is poised to report a better than expected combined ratio of 91.9% for full year 2022, although an investment loss of £3 billion is expected to result in a full year loss before tax. Full results are scheduled for release on March 23rd.
