Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has announced that Sir Charles Roxburgh KCB will become its next Chair, effective 1 May, 2025.
Roxburgh will be succeeding Bruce Carnegie-Brown, who has held the position since 2017.
He brings a wealth of experience from both the UK Government and the private sector, including significant contributions to various initiatives at Lloyd’s.
Previously, Roxburgh served at His Majesty’s Treasury for nine years, including as Second Permanent Secretary from July 2016 to June 2022, where he engaged frequently with the insurance industry and Lloyd’s.
Prior to that, Roxburgh spent 26 years at McKinsey, holding various leadership roles such as 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.
Currently, he serves as Non-Executive Chairman at Legal & General America, Non-Executive Board Member at Herbert Smith Freehills, and Non-Executive Director at Shell.
Bruce Carnegie-Brown, the current Chairman of Lloyd’s, said, “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.”
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 go from strength to strength, delivering its unique value proposition to the market’s participants, investors and customers into the future.”
Roxburgh remarked, “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.”
Sheila Cameron, CEO of the Lloyd’s Market Association, commented, “The LMA welcomes the appointment of Charles Roxburgh as the next Chair of Lloyd’s. Charles is an outstanding choice for this role and will be hugely supported across the market. He brings deep and extensive knowledge of the Lloyd’s market, as well as the broader financial services industry and government. The LMA looks forward to working closely with Charles on continuing to grow and enhance the market’s reputation as the global leader for specialty insurance.”
