Patrick Tiernan, Chief Executive of Lloyd’s , has been appointed Vice-Chair of the Reinsurance Advisory Board (RAB), succeeding John Neal, who has stepped down as the CEO of Lloyd’s.
Tiernan brings a wealth of experience to the position, with a strong background in both the regulatory and reinsurance arenas. Prior to becoming CEO, he served as Chief of Markets at Lloyd’s and has held senior roles within the insurance sector, including at Aviva, StarStone and Zurich.
His appointment comes at a pivotal time for the insurance and reinsurance industries, amid growing geopolitical instability, accelerating climate change, and the rapid evolution of digital technologies. Against this backdrop, the RAB continues to champion an open and globally connected reinsurance market capable of responding effectively to emerging risks.
Commenting on his appointment, Mr. Tiernan said, “I am honoured to take on the role of Vice-Chair of the RAB and to support its critical mission of ensuring that reinsurance remains a resilient, innovative, and globally accessible tool for managing risk. I look forward to working closely with Thierry Léger, the Chair of the RAB, my fellow members, and stakeholders across Europe to strengthen the industry’s ability to protect society in an increasingly complex risk environment.”
The Reinsurance Advisory Board is represented at chair and CEO level by seven of the world’s leading reinsurers: Gen Re, Hannover Re, Lloyd’s, Munich Re, PartnerRe, SCOR, and Swiss Re. Insurance Europe provides the RAB’s secretariat. The RAB works to promote regulatory frameworks that support a stable and competitive reinsurance market and enable efficient global risk transfer through both traditional reinsurance and insurance-linked capital solutions.