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Lloyd’s announces Executive Team

02 June 2025

Lloyd’s, the world’s leading insurance and reinsurance market for global risk, today announces its updated Executive Team, with the following appointments effective immediately:

  • Rachel Turk is appointed as Chief of Market Performance and will join the Council of Lloyd’s, effective 1 June. Rachel will assume the underwriting responsibilities of the former Chief of Markets role[1], subject to regulatory approval[2]. She will also chair Lloyd’s Capital Planning Group (CPG).

  • Caroline Sandeman-Allen is appointed to the Executive Team as Chief of Market Oversight and will assume the oversight responsibilities of the former Chief of Markets role[3], subject to regulatory approval[4]. This appointment reflects the increasing importance of Lloyd’s principles-based oversight framework. Caroline will also chair Lloyd’s Market Oversight Group (MOG).

  • Jonathan May is appointed to the Executive Team in his current position as CEO of Lloyd’s Insurance Company (LIC), the wholly owned subsidiary of Lloyd's that facilitates Lloyd's underwriting activity in the European Economic Area. This appointment will strengthen governance of the Corporation and recognises the importance of Lloyd’s European business.

  • Dawn Miller continues in her role as Chief Commercial Officer and CEO, Americas. In addition to her existing roles, she will assume responsibility for the Corporate Affairs function. Dawn will also chair Lloyd’s Business Opportunities Committee (BOC).

  • The existing roles and responsibilities of Alexandra Cliff as Chief Financial Officer and Lloyd’s Council member, Nathan Adams as Chief People Officer, Claire Schrader as General Counsel and David Sansom as Chief Risk Officer, remain unchanged.

  • George Marcotte will continue to serve as interim Chief Operations Officer (COO), while the Corporation seeks a permanent appointment.

The Executive Team will report directly to Patrick Tiernan, Lloyd’s Chief Executive.

[1] See notes to editors.   
[2] The appointment is subject to approval and consent from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).   
[3] See notes to editors.   
[4] The appointment is subject to approval and consent from the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). 

“I am pleased to announce the appointments to my Executive Team. We will work at pace to deliver on the market’s short-term priorities. We will also work closely with Council to develop a long-term vision for the Corporation, that will strengthen and extend Lloyd’s leadership as the world’s pre-eminent marketplace for risk.

“This group has the right mix of skills, experience and focus to ensure that we remain true to our mandate of supporting and stewarding the market to commercial success. As a team, we will work tirelessly to deliver for all our stakeholders.”
Patrick Tiernan, Lloyd’s Chief Executive

Notes to Editors

  • Following the appointment of Patrick Tiernan from Chief of Markets to Chief Executive, the previous Chief of Markets position will be replaced by the Chief of Market Oversight and Chief of Market Performance positions, both of which sit on the Executive Team.
  • The Chief Commercial Officer now sits on the Executive Team rather than reporting to the Chief of Markets, and the CEO of Lloyd’s Insurance Company (LIC) will no longer report via the Chief Commercial Officer, but directly to the Chief Executive.

Enquiries to:

pressoffice@lloyds.com

About Lloyd's

Lloyd’s is the world’s leading insurance and reinsurance market for global risk. Through the collective intelligence and expertise of the network’s underwriters and brokers, we connect risk to capital, provide global access to trading partners across borders, and innovative solutions that protect societies and businesses worldwide.

The Lloyd’s market is made up of over 50 leading insurance companies, more than 400 registered brokers and a global network of over 2,900 local coverholders. That reach is extended by the global licenses and regulatory permissions we hold, which enable customers to access insurance solutions in 80 countries, reinsurance solutions in 100 countries and offshore reinsurance in over 200 territories.

In 2024, the Lloyd’s market underwrote £55.5bn in insurance premiums, backed by over £100bn of centrally held capital. It underwrites risk spread by syndication and its financial strength is amplified by a strong balance sheet, excellent credit ratings, and a chain of security. 

Behind the Lloyd’s market is the Corporation: an independent organisation and regulator working to maintain the market's successful reputation and operation.