Lloyd's names Cliff CFO with Keese set to exit in Q2

By Rebecca Delaney

Jan 30 - (The Insurer) - Lloyd's has appointed Alexandra Cliff as chief financial officer, succeeding Burkhard Keese, who has held the role since 2019.

Cliff's appointment will commence on 1 May 2025.

She joined Lloyd’s as deputy CFO in November 2022 and currently serves on Lloyd’s executive committee.

Prior to Lloyd's she was group financial controller at Direct Line Group. Other previous roles include group CFO at StarStone Insurance and head of financial planning at Aspen.

Cliff will succeed Keese as part of what Lloyd's described as a "long-established succession plan".

Keese is set to leave the Corporation to focus on investment roles in the German insurance market. He will remain a strategic adviser to Lloyd’s, focusing on the development of the London Bridge 2 platform.

During his time as CFO, Keese oversaw a notable performance turnaround in the Lloyd’s market, including the strengthening of its balance sheet, which was recognised by financial strength rating upgrades by S&P Global and AM Best in December 2023 and August 2024, respectively.

Commenting on the appointment, outgoing Lloyd's CEO John Neal said: “Since joining Lloyd’s as deputy CFO, Alex has played a vital role in achieving our enhanced financial strength, including recent ratings upgrades, building our investment proposition and transforming market reporting.

"She is a well-respected member of the executive committee, and I have no doubt she will continue to deliver against our strategic priorities as CFO."

Neal added: “I would like to thank Burkhard for his work guiding Lloyd’s to some of its best-ever financial results and his execution of the capital proposition, which has made Lloyd’s more resilient than ever. He has been integral in elevating Lloyd’s financial strength ratings and attracting high-profile capital investment to the market.”

Earlier this month it was announced that Neal is set to join Aon as CEO of global reinsurance and global chair of climate solutions on completion of his notice period with Lloyd’s.

As previously reported, while Neal has a rolling 12-month notice period, the parties are understood to be in discussions over the timing of his departure.

Neal began his tenure as Lloyd’s CEO in October 2018, replacing Dame Inga Beale, who had held the role for close to five years. He previously served as group CEO at QBE.