Lloyd’s has announced the appointment of Alexandra Cliff (pictured) as its new chief financial officer (CFO), effective May 1.

Cliff joined Lloyd’s in November 2022 as deputy CFO and is currently a member of the Lloyd’s executive committee. She brings more than 20 years of experience in the insurance sector, having held senior finance positions at companies including Direct Line Group, StarStone and AJ Gallagher.

Cliff is a chartered accountant and spent eight years working at PwC in both London and the US. She will succeed Burkhard Keese, who will step down from the CFO role as part of a long-established succession plan.

“Since joining Lloyd’s as deputy CFO, Alex has played a vital role in improving our financial strength, including recent ratings upgrades, building our investment proposition, and transforming market reporting,” said John Neal, Lloyd’s chief executive officer. “She is a respected member of the executive committee, and I am confident she will continue to drive our strategic priorities as CFO.”

What happens next with Burkhard Keese?

Keese is leaving to pursue investment opportunities in the German insurance market but will continue to support Lloyd’s as a strategic adviser, focusing on the development of the risk transfer vehicle, London Bridge 2.

Keese joined Lloyd’s in 2019 and during his tenure as CFO, he played a significant role in the turnaround of Lloyd’s financial performance. His efforts in strengthening the organisation’s balance sheet led to Lloyd’s achieving the highest financial strength ratings in its history, as recognised by S&P Global and AM Best. Additionally, Keese contributed to positioning Lloyd’s as a market for global investors, supporting the development of the London Bridge 1 and 2 initiatives.

Neal continued: “I would like to thank Burkhard for his leadership, which has guided Lloyd’s to some of its best financial results. His work on the capital proposition has significantly strengthened Lloyd’s resilience, and his role in elevating the market’s financial strength ratings has attracted high-profile capital investment.”

This transition marks a significant moment for Lloyd’s, as the organisation continues to strengthen its financial foundation.

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