Sir Charles Roxburgh is to become the next chair of Lloyd’s, replacing Bruce Carnegie-Brown in May 2025.

Roxburgh recently stepped down from his role as second permanent secretary at the Treasury from July 2016 to June 2022. Prior to this, he was the director-general, financial services from February 2013 to July 2016. Throughout his time at the Treasury, he had regular contact with the insurance industry and engagement with Lloyd’s.

Roxburgh spent 26 years at McKinsey, where he held a number of leadership positions, 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 the lead consultant working with the Lloyd’s Taskforce in 1992.

Lloyd’s chairman, Bruce 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. 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.”

Roxburgh was appointed Knight Commander of the Order of the Bath in the 2022 Birthday Honours for services to Government. His appointment is subject to regulatory approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority.

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