Lloyd’s, the world’s leading marketplace for insurance and reinsurance, has announced that Sir Charles Roxburgh KCB will be its next Chair.
This appointment is subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority, with Roxburgh set to take up the role on 1 May 2025.
He will succeed Bruce Carnegie-Brown, who has held the position for the past eight years.
Lloyd’s is a global marketplace that specialises in offering insurance and reinsurance solutions to customers around the world.
It operates through a network of over 50 leading insurance companies and hundreds of brokers. Known for its innovation and strength, Lloyd’s provides financial protection for businesses in a variety of industries, ensuring resilience in an unpredictable world.
Sir Charles brings decades of experience from both the UK Government and the private sector, making him a valuable asset for Lloyd’s. He recently stepped down as the Second Permanent Secretary at His Majesty’s Treasury, a role he held from July 2016 to June 2022. In this position, he maintained close ties with the insurance industry, regularly engaging with Lloyd’s.
Prior to his time at the Treasury, he was the Director-General Financial Services and spent 26 years at McKinsey, where he held leadership roles in global strategy and financial services.
During his career, Sir Charles worked closely with Lloyd’s, contributing to key initiatives such as the Lloyd’s Taskforce in 1992 and collaborating on the 1993 Business Plan with then Chair, Sir David Rowland.
His extensive leadership background and knowledge of both the public and private sectors will be critical in guiding Lloyd’s through its next phase of growth.
Additionally, Sir Charles was honoured as Knight Commander of the Order of the Bath (KCB) in 2022 for his services to government.
His deep understanding of financial markets and regulation makes him well-positioned to lead Lloyd’s, which is known for its pivotal role in the global insurance industry.
Bruce Carnegie-Brown, who has served as Lloyd’s Chairman since 2017, expressed his pride in Lloyd’s progress during his term, particularly in improving financial performance and modernising the marketplace.
“It has been a huge privilege to serve the market as its Chairman since 2017 and to play a part in driving forward many aspects of Lloyd’s progress including, most importantly, its financial performance. During that time, Lloyd’s has also made good progress in building a more modern, sustainable, innovative, and inclusive marketplace. Lloyd’s plays an important role in the global financial services sector, and I am delighted to welcome Sir Charles Roxburgh who brings great experience and expertise which will help the market go from strength to strength, delivering its unique value proposition to the market’s participants, investors and customers into the future,” he said.
Sir Charles Roxburgh shared his enthusiasm for the new role, stating, “Lloyd’s plays a critical role at the heart of the global insurance industry and UK financial services. Under Bruce’s leadership, it has prospered and is in a strong competitive position, with robust financial security. The market is delivering valuable protection to its customers and healthy financial returns to members and investors. I am delighted and honoured to have been selected as the next Chair of Lloyd’s. I look forward to working with the Council, with John and the strong executive team, and with the wider Lloyd’s market to guide Lloyd’s to even greater success in the future.”
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