Lloyd’s of London has appointed former senior Allianz executive Burkhard Keese as chief financial officer.
The insurance market has hired Keese from the German insurance giant where he spent 14 years, most recently as chief financial officer of Allianz Deutschland.
Keese’s hire comes as Lloyd’s new chief executive John Neal moves to build his executive team.
Other recent exits from Lloyd’s executive team include former chief executive Inga Beale and chief operating officer Shirine Khoury-Haq.
Neal said: “Burkhard joins Lloyd’s at an exciting time. We are working with all our stakeholders to significantly improve near term profitability and ensure Lloyd’s remains at the forefront of commercial, corporate and specialty insurance and reinsurance for years to come.”
Keese said: “For 330 years Lloyd’s has been taking on the world’s risks and that longevity demonstrates its enduring relevance. As one of the oldest and most respected insurance brands in the world, there is nothing else like it, and I’m thrilled to be given this opportunity.”
Last week Neal gave his first public speech since joining the market from QBE four months ago.
Neal apologised for Lloyd’s “unacceptable” past performance and vowed to make it a thing of the past.
Goals include stripping out underwriting costs to make the market more competitive, to continue the move to electronic underwriting and to make better use of alternative capital.
Further reading: Natural disasters halve Lloyd's of London profits