Lloyd’s, the world’s leading insurance and reinsurance market, has announced the appointment of Jim Bichard as chief financial officer, with the senior hire set to join the organisation in April 2026.
Bichard will become a member of Lloyd’s Executive Team, reporting directly to chief executive Patrick Tiernan, and will also take a seat on the Council of Lloyd’s.
Lloyd’s operates as a global marketplace where specialist insurers and reinsurers underwrite complex risks, providing coverage across more than 200 countries and territories.
The market plays a central role in enabling global trade, protecting communities and supporting economic resilience by offering capacity for risks that are often difficult to place elsewhere.
In his new role, Bichard will be responsible for overseeing Lloyd’s financial strategy as the market embarks on its next phase of development. His appointment comes at a time when Lloyd’s is launching a new strategic direction focused on long-term growth, enhanced capital efficiency and strengthening its position as a global hub for specialist insurance and reinsurance.
Bichard joins Lloyd’s from PwC, where he currently leads the firm’s global insurance practice. During his 30-year career at PwC, including five years in New York, he has worked extensively across finance, operations and front-office transformation programmes. His experience spans advisory work on innovative insurance and broker transactions, as well as capital, risk and regulatory leadership roles across the UK, EMEA and global markets.
Earlier in his career, Bichard began in audit before moving into senior advisory positions. He has previously led PwC’s UK insurance practice and its Lloyd’s, London market and broking business, giving him deep familiarity with the market he is now set to join.
He will succeed Alexandra Cliff, who is leaving Lloyd’s to pursue new opportunities after playing a key role in strengthening the organisation’s financial foundations and capital discipline during her tenure.
Lloyd’s CEO Patrick Tiernan said, “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.
“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.”
Lloyd’s incoming CFO Jim Bichard said, “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.”
Bichard’s appointment is subject to approval from the Prudential Regulation Authority and the Financial Conduct Authority.
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