Jim Bichard, the current leader of PwC’s global insurance division, will take over as Chief Financial Officer (CFO) of the specialist Lloyd’s insurance and reinsurance marketplace in April 2026, replacing Alexandra Cliff.
Almost a year ago, Cliff was announced as Burkhard Keese’s successor as CFO of Lloyd’s, having served as Deputy CFO since November 2022. But after less than a year in the CFO role, she has decided to pursue other opportunities.
Her replacement, Bichard, has three decades of experience at PwC, including five in New York, and brings expertise in technology-enabled transformation across finance, operations, and front office to his new role.
Bichard also advises on innovative insurance and broker deals including transactions for innovative capital structures. His career started in audit and he later transitioned into advisory roles including leading the capital, risk and regulatory practice in UK & EMEA. Previously, he led PwC’s UK insurance practice and the Lloyd’s, London market and broking business.
His appointment is subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority, and once he joins the marketplace in April, he will become a member of the Lloyd’s Executive Team and join the Council of Lloyd’s, reporting directly to Patrick Tiernan, Chief Executive Officer.
“I’m delighted to welcome Jim to Lloyd’s. He brings a deep knowledge of the global insurance industry, as well as a clear-eyed view of how capital, risk and clients intersect in a changing world. Lloyd’s is entering an exciting phase, as we launch a new strategy with greater global ambition, strong momentum behind our market and a growing opportunity to support the global economy through innovation. Jim’s calibre, standing in the market and experience will be invaluable as we continue to build an exceptional leadership team for the future of Lloyd’s,” said Tiernan.
“I would also like to thank Alex for her significant contribution to Lloyd’s over the years. Her leadership has been important in strengthening the financial foundations of the Corporation and the market. In her time at Lloyd’s the finance team has sharpened our discipline and enhanced Lloyd’s appeal to an increasingly diverse and global pool of capital. I and the rest of the leadership team wish her all the very best for the next phase of her career,” he added.
Bichard commented: “I am hugely excited to be joining Lloyd’s at such a pivotal moment. Through my work across the London market and around the world, I have seen first-hand the unique role Lloyd’s plays in enabling trade, protecting communities and absorbing the risks others cannot. Lloyd’s matters to the global economy in a way few institutions do. I am looking forward to working with Patrick, colleagues across the market, and existing and future capital providers to support sustainable growth, disciplined underwriting and long-term value for all our stakeholders.”
