Lloyd's appoints new franchise performance director

The first Franchise Performance Director at the Lloyd's of London insurance market has been named as Rolf Tolle.

Mr Tolle, 54, is currently Chief Underwriting Officer and a Board Member of Faraday Group, the London-based insurance operation owned by General Re Corporation. His appointment marks the next major step in the implementation of a package of reforms designed to modernise the Lloyd's market and improve its financial performance.

Prior to his current position with Faraday, Mr Tolle spent 10 years as Chief Executive Officer of Europa Re, based in Cologne. During a career in insurance spanning 27 years, Mr Tolle has also been Managing Director of Norwegian insurer Polaris and has held a range of senior positions with Scandinavian insurers, Storebrand and Unipolaris and has worked in the US with Christiania General.

Commenting on his appointment, Mr Tolle said:

"Lloyd's has begun a programme of reform that will ensure it remains a world leader in the insurance industry. I am looking forward to playing a key role in implementing those reforms and modernising the market during this exciting time and hope to help it to capitalize on today's strong performance. This should ensure Lloyd's is better prepared for any future down turn in the insurance cycle."

Lloyd's Chief Executive Nick Prettejohn said:

"We are delighted that Rolf is joining Lloyd's at a time when the market is in such a strong position and driving forward with its programme of modernisation. His extensive experience of underwriting and management will bring a critical set of skills to the implementation of the reforms."

The position of Franchise Performance Director is a new post at Lloyd's created as part of the market's reform programme. The Franchise Performance Director and his team will be responsible for working with individual Lloyd's businesses - the franchisees - to improve the commercial performance of the market. This will include monitoring each franchisee's performance against its business plan and ensuring that the new underwriting and service guidelines for franchisees are adhered to.

Mr Tolle is also the final appointment to the new Lloyd's Franchise Board announced last month.

Mr Tolle holds a degree in political science from the University of Berlin. He is married with three children and lives in London.

Notes to editors:

1.        Mr Tolle's appointment is subject to approval by the Financial Services Authority.

For further information, please contact Lloyd's:

Sara Pittman
Tel: +44 (0)20 7327 6256
Fax: +44 (0)20 7327 5229
Adrian Beeby
Tel:+44 (0)20 7327 6272
Fax: +44 (0)20 7327 5229

Lloyd's is the world's leading insurance market with a capacity to accept insurance premiums of more than £12 billion in 2002. It is the world's second largest commercial insurer and seventh largest reinsurer. In 2002, 88 syndicates are underwriting insurance at Lloyd's, covering all classes of business from more than 100 countries worldwide. Approximately five per cent of world reinsurance is placed at Lloyd's which also accounts for half of the London market's international insurance premiums.


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