Turk steps up at Lloyd’s as Tiernan outlines new executive team

Rachel Turk has been appointed chief of market performance at Lloyd’s of London, as new chief executive Patrick Tiernan officially began his role yesterday (2 June 2025). 

Turk, who previously held the role of chief underwriting officer for the market, will also assume the underwriting responsibilities of the former chief of markets role, which Tiernan held prior to his appointment.

She will also join the Council of Lloyd’s and become chair of the Lloyd’s Capital Planning Group. 

Lloyd’s also announced further appointments, with Caroline Sandeman-Allen appointed as chief of market oversight, including the market oversight responsibilities of the former chief of markets role. Sandeman-Allen will chair the Lloyd’s Market Oversight Group. 

Jonathan May has also joined the executive team as chief executive at the Lloyd’s Insurance Company, which is the market’s wholly owned subsidiary that facilitates underwriting in the European Economic Area. 

Dawn Miller will continue in her role as CCO and chief executive for the Americas, but will also assume responsibility for Lloyd’s corporate affairs function. 

Delivering priorities

In his first letter to the market as chief executive, Tiernan shared his vision for the development of Lloyd’s, noting that the market was “well-placed to grasp a generational opportunity”. 

Commenting on the new executive team appointments, he added: “We will work at pace to deliver on the market’s short-term priorities. We will also work closely with the council [of Lloyd’s] 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.”