Lloyd's Fills CFO Seat with Executive From Allianz's German Unit
05 February 2019 - 9:40AM
Dow Jones News
By Tatyana Shumsky
Lloyd's of London, the U.K. insurance market, appointed Burkhard
Keese as chief financial officer, nabbing the finance head of a
German insurance company to lead its finance team.
Mr. Keese will start his new role on April 1, pending approval
by the U.K.'s Prudential Regulation Authority and the Financial
Conduct Authority, the company said.
Mr. Keese is currently CFO of Allianz Deutschland AG, Germany's
largest insurer, a role he's held since 2012. Before that, he was
executive vice president and chief operating officer of the global
finance team. He spent 14 years at Allianz Group.
"He is an accomplished chief financial officer with leadership
experience across financial, capital and investment management, as
well as proven expertise in business transformation," John Neal,
the chief executive of Lloyd's, said in a statement.
Allianz said it would announce Mr. Keese's successor at a later
date, according to a statement.
Mr. Keese succeeds John Parry, who in May last year announced
plans to leave after 17 years at Lloyd's. Mr. Parry had been CFO
since 2014 and had joined the insurer in August 2001.
To ensure a smooth transition, Mr. Parry will remain with
Lloyd's as CFO until after the company reports its full-year 2018
results in March, a Lloyd's spokesman said.
Mr. Keese's appointment comes roughly five months after the
insurance market named a new CEO. Mr. Neal, previously CEO of
Australia's QBE Insurance Group Ltd., was named to the job in
September.
Lloyd's in September reported a pretax first-half profit of
GBP600 million ($784.92 million). The profit was down from GBP1.2
billion in the first half of 2017. The decline was the result of
lower investment returns, the company said.
Write to Tatyana Shumsky at tatyana.shumsky@wsj.com
(END) Dow Jones Newswires
February 04, 2019 17:25 ET (22:25 GMT)
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