Ep 96 Patrick Tiernan Chief of Markets Lloyd‘s of London: A vision bound by logic

The Voice of Insurance

Patrick Tiernan Chief of Markets at Lloyd’s has the broadest job description of almost anyone in insurance.
He is responsible for whole abstract ideas such as ‘Underwriting’ and ‘Distribution’ at a vast global insurance marketplace which can make it sometimes hard to know where to start.
My job as a journalist is to take the abstract and turn it into something really specific and so listening back to today’s interview I must admit I was sometimes a bit annoyed with myself for not diving into every secondary and tertiary line of questioning that our discussion was throwing up.
But then I decided to stop beating myself up.
There was so much to talk about.
With unlimited time we could have done a series of at least five separate podcasts.
The unanswered questions are there to be asked next time in subsequent encounters. Always leave them wanting more…
But what this interview is - is a really useful walk around one of the biggest jobs in insurance and an introduction to the person tasked with taking that role on.
We get to know a little of what makes him tick and there is enough here to get a feel for what sort of reign Patrick’s is going to be over number 1 Lime Street, London, in the coming years.
Patrick is incredibly accessible and transparent and comes across as a very level-headed, logical, thoughtful and reasonable person.
It is clear he has already listened to what the market wants and thought very deeply about what needs to change to keep Lloyd’s relevant, influential and competitive in the future.
He isn’t top-down or dictatorial and with perhaps the exception of when he talks about sustainable underwriting profitability across the cycle, he doesn’t seem in any way dogmatic.
He’s also a great communicator and his delivery is laden with considerable Irish wit and charm. It is very hard not to like him.
As a first portrait it’s a broad-brush one, but I think listening to this podcast will give you a good idea of the big picture

LINKS

We thank our naming sponsor AdvantageGo - enabling an enterprise view of exposure:
https://www.advantagego.com/

We also thank Claims Direct Access (CDA) and Bolton Associates for their support today:
https://www.claimsdirectaccess.com/
https://www.bolton-associates.co.uk/