Lloyd’s has announced that Sir Charles Roxburgh KCB will take up the post of chair on 1st May 2025 and succeed Bruce Carnegie-Brown after an eight-year term. The appointment is subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority.

Roxburgh has recently stepped down from senior roles within His Majesty’s Treasury, having been the second permanent secretary at the Treasury from 2016 to 2022. Prior to this, he was the director-general financial services from 2013 to 2016.

He also spent 26 years with McKinsey and was the lead consultant working with the Lloyd’s Taskforce in 1992, and then worked with the then chair Sir David Rowland on the 1993 Business Plan and the design and implementation of Reconstruction and Renewal.

Carnegie-Brown 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.

“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 added: “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.”