Lloyd’s appoints new chief financial officer as departure announced

Lloyd’s has appointed Jim Bichard as its new chief financial officer.

Bichard currently leads PwC’s global insurance practice, overseeing services to clients across all industry segments.

He also advises on insurance and broker deals including transactions for innovative capital structures.

Bichard will start his new role in April 2026 and become a member of Lloyd’s Executive Team, reporting directly to Patrick Tiernan, chief executive.

Tiernan said: “I’m delighted to welcome Bichard 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. His 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.”

Departure

He will replace Alexandra Cliff, who will be leaving Lloyd’s to pursue other opportunities.

She joined the marketplace in 2022 from Direct Line Group, where she was group financial controller.

Tiernan said: “I would also like to thank Cliff 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.”