CFO Keese to leave Lloyd’s but will continue as an advisor, focusing on London Bridge development.

Lloyd’s of London CFO Burkhard Keese to Step Down, Remain Advisor for London Bridge 2

Burkhard Keese, CFO of Lloyd’s of London, will leave his position to focus on investment opportunities in the German insurance sector. However, he will continue as a strategic advisor, concentrating on the development of the London Bridge 2 risk transfer vehicle.

Keese joined Lloyd’s in 2019 and has played a key role in positioning the market as an attractive destination for global investors to allocate capital for insurance and reinsurance risks. His contributions have been particularly significant in the establishment and success of the London Bridge 1 and 2 insurance-linked securities (ILS) structures.

Recent reports indicate that Lloyd’s London Bridge ILS platform has facilitated the deployment of $1.92 billion in capital across its cells, with total committed capital reaching $2.55 billion. Keese has been instrumental in streamlining the UK’s ILS framework, making it a more efficient investment channel, including for ILS funds, and enabling catastrophe bond issuance.

Alexandra Cliff will succeed Keese as CFO in May 2025. Cliff, who joined Lloyd’s as Deputy CFO in November 2022, is a member of the Executive Committee and brings over 20 years of insurance industry experience. Her previous senior finance roles include positions at Direct Line Group, StarStone, and AJ Gallagher, as well as eight years with PwC in both London and the US.

Lloyd’s CEO, John Neal, praised Cliff’s contributions, highlighting her role in strengthening the market’s financial position, achieving ratings upgrades, and enhancing investment and reporting frameworks. He also acknowledged Keese’s leadership in delivering Lloyd’s strongest financial results, boosting its capital strategy, and reinforcing its resilience. Neal credited Keese with elevating Lloyd’s financial strength ratings and attracting significant capital investments.