Financial journalists were given the first glimpse of Lloyd's newly-crowned chief executive this week as Richard Ward was officially unveiled to the media.

Primed and extremely polished, the former chief executive of the International Petroleum Exchange (IPE, now ICE Futures) fended off questions about market challenges, technology and the infamous Kinnect as he was carefully guided around a foyer-full of reporters.

After 10 days of sitting at underwriting boxes, conversing with brokers and immersing himself in the complexities of the world's leading specialist insurance market, the former research scientist seemed in confident mood about his task ahead.

"It is all about making money," insisted Ward, who was seduced by the Lloyd's brand and its incomparable history.

How he intends to meet the challenges that stand in his way to success, he has not quite ascertained after less than two weeks in the job.

But, the charming chief executive, who will fit in well among a growing number of amateur sailors on the Lloyd's council, says he will only stay if he feels he still has a job to do and the corporation believes in his worth.

Having defeated the derivatives market, succeeded in science and survived a grilling from the City's media, the world of insurance may offer new challenges, but if first impressions are anything to go by, Ward will not be fazed by a market that does not tolerate failure kindly.