The Council of Lloyd’s has appointed Richard Pryce, CEO for QBE
European Operations, to the franchise board of the specialist insurance market.
Pryce will serve as a market-connected non-executive director of the franchise Bbard, which is responsible for the day-to-day running of Lloyd’s.
Starting immediately, Pryce will serve an initial term of three years.
“This is an exciting time to be joining the Lloyd’s Franchise Board,” he said. “There is no shortage of major issues approaching and the role of the Board will be critical in ensuring the market can navigate them successfully and thrive.”
Commenting on the appointment, Lloyd’s chairman John Nelson said Pryce has “unrivalled experience of the market both here in the UK and globally.”
“He will bring an informed view that will help challenge the board and Lloyd’s to ensure we are continuing to support the market in the best way possible,” Nelson said.
Pryce is replacing Nicholas Furlonge, who has retired from his role on the franchise board after nine years of service.
Nelson said Furlonge “has played a tremendous part in the success and growth of Lloyd’s over the last decade.”
“He has been a tremendous supporter of the need for the market to modernise and the aims of Vision2025 – and he has always given the board excellent advice,” Nelson added.
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