Jim Bichard, current leader of PwC’s global insurance division, will take over as chief financial officer (CFO) of Specialty Lloyd’s Insurance and Reinsurance Markets in April 2026, succeeding Alexandra Cliff.
Cliff was announced nearly a year ago to succeed Burkhard Keese as Lloyd’s Chief Financial Officer and will serve as Deputy Chief Financial Officer from November 2022. But after less than a year as CFO, she decided to pursue other opportunities.
Her successor Bichard has three decades of experience at PwC, five of them in New York, and brings expertise in technology-enabled transformation across finance, operations and the front office to his new role.
Bichard also advises on innovative insurance and brokerage transactions, including innovative capital structure transactions. He began his career in audit and later held consulting roles, including leading the capital, risk and regulatory practice in the UK and EMEA. Previously, he led PwC’s UK insurance practice as well as Lloyd’s, London markets and brokerage practices.
His appointment is subject to the approval and consent of the Prudential Regulation Authority and the Financial Conduct Authority, and once he joins the market in April, he will become a member of Lloyd’s executive team and join the Lloyd’s Council, reporting directly to chief executive Patrick Tiernan.
“I am delighted to welcome Jim to Lloyd’s. He brings a deep understanding of the global insurance industry and a clear view of how capital, risk and customers interact in a changing world. Lloyd’s is entering an exciting phase as we launch a new strategy with greater global ambition, strong momentum behind the market and growing opportunities to support the global economy through innovation. As we continue to build an exceptional leadership team, Jim’s talents, market position and experience will be invaluable for the future of Lloyd’s,” said Tiernan.
“I would also like to thank Alex for her significant contribution to Lloyd’s over many years. Her leadership has been instrumental in strengthening the financial foundation of the company and the markets. During her time at Lloyd’s, the finance team has strengthened our discipline and strengthened Lloyd’s attractiveness to increasingly diverse and global capital pools. I and the rest of the leadership team wish her all the best in the next stage of her career,” he added.
Bichard commented: “I am absolutely delighted to be joining Lloyd’s at such a pivotal time. Through my work in the London market and around the world, I have seen first-hand the unique role that Lloyd’s plays in facilitating trade, protecting communities and absorbing risks that other institutions cannot. Lloyd’s impacts the global economy in a way that few institutions can. I look forward to working with Patrick, colleagues across the market and existing and future capital providers to support sustainable growth, disciplined underwriting and long-term value for all our stakeholders.”