Lloyd’s of London has appointed Burkhard Keese as its finance chief. The appointment takes effect April 01.

Kees joins Lloyd’s after 14 years with Allianz, according to a Reuters report. At Allianz, Keese served as chief financial officer for Allianz Deutschland AG, Germany’s largest insurer.

Keese’s appointment comes after Lloyd’s named a new chief executive in the wake of a 2017 loss of £2 billion due to a series of natural catastrophes, Reuters said.

“Burkhard joins Lloyd’s at an exciting time,” CEO John Neal said in a statement. “We are working with all our stakeholders to significantly improve near-term profitability…”