Sandeman-Allen to replace Montanaro as Lloyd’s market oversight director

By Scott Vincent

Feb 24 - (The Insurer) - Lloyd’s has appointed Caroline Sandeman-Allen to succeed Peter Montanaro as market oversight director with effect from March 1.

Sandeman-Allen is an internal appointment, having worked for Lloyd’s for more than 17 years, most recently as head of market governance.

She announced her new appointment via her LinkedIn profile.

Montanaro announced he was to retire last year, following more than two decades at Lloyd’s during which he has helped shape its current oversight structure.

According to sources close to the Corporation, he will remain with Lloyd’s in an advisory capacity until the end of May 2025.

In her new role, Sandeman-Allen is set to report to Patrick Tiernan, Lloyd’s chief of markets.

The change comes amid significant upheaval within the Corporation’s management, with its CEO, chair and CFO all set to change this year.

In January it was announced that CEO John Neal is leaving Lloyd's to join Aon. A search is under way for his replacement, led by Lloyd’s nominations and governance committee.

Tom Hicks, who leads the UK insurance practice at recruitment firm Russell Reynolds Associates, is advising the committee, multiple sources have said.

Incoming chair Charles Roxburgh is also due to assist in that recruitment process. He officially succeeds Bruce Carnegie-Brown in May.

CFO Burkhard Keese is also departing on May 1 to join German MGA Konzept & Marketing. He will be replaced by Alexandra Cliff, currently the market’s deputy CFO.