Sir Charles Roxburgh was appointed the next chairman of Lloyd’s, succeeding Carnegie-Brown

Lloyds of London, the reinsurance market, has announced that Sir Charles Roxburgh has been appointed as its next chairman, subject to regulatory approval.

Sir Charles will take up the post on 1 May 2025, succeeding Bruce Carnegie-Brown after his eight-year term. Sir Charles’ appointment is the culmination of a “robust and extensive search” as well as approval from Lloyd’s Board, Lloyd’s said.

Sir Charles brings a wealth of experience gained in both UK Government and the private sector, including supporting several high profile initiatives at Lloyd’s. He recently stepped down from one of the most senior roles in Her Majesty’s Treasury, serving as Second Permanent Secretary to the Treasury from July 2016 to June 2022. Prior to that, he was Director General of Financial Services from February 2013 to July 2016. During his time at the Treasury he had regular contact with the insurance industry and had an engagement with Lloyd’s.

Sir Charles spent 26 years at McKinsey, where he held a number of senior roles, including co-head of the Global Strategy Practice, head of the UK Financial Institutions Group and co-leader of the Global Corporate and Investment Banking Practice. During his time at McKinsey, he was a lead consultant working with the Lloyd’s Taskforce in 1992, then worked with the then chairman Sir David Rowland on the 1993 business plan and the design and implementation of the rebuilding and renewal programme.

“It has been an immense privilege to serve the market as chairman since 2017 and to play a role in driving many aspects of Lloyd’s progress, including, most importantly, its financial performance,” Carnegie-Brown commented in a statement.

“During this time, Lloyd’s has made important strides in building a more modern, sustainable, innovative and inclusive market,” he added. “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 grow from strength to strength, delivering a unique value proposition market participants, investors. and customers in the future.”

Sir Charles was made a Knight Commander of the Order of the Bath (KCB) in the 2022 birthday honors for services to the government.

Source: Lloyd’s

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Lloyd’s Surplus