BREAKING NEWS

BREAKING NEWS

Lloyd's of London appoints Allianz's Burkhard Keese as CFO

Lloyd's of London appoints Allianz's Burkhard Keese as CFO
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SIMON DAWSON(Reuters)
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(Reuters) - Lloyd's of London, the insurance market which covers risks from oil rigs to soccer stars' legs, on Monday named Burkhard Keese as its finance chief, effective April 1.

The marketplace said Keese would join Lloyd's after 14 years at German insurer Allianz, where he was chief financial officer of Allianz Deutschland AG, Germany's largest insurer with over 34 billion euros (30 billion pounds) in premiums.

Keese's appointment comes after Lloyd's, which recorded a loss of 2 billion pounds in 2017 due to catastrophes such as hurricanes and wildfires, named a new chief executive last year.

The market bounced back after ditching some loss-making businesses, although weak investment returns hurt profit.

"Burkhard joins Lloyd's at an exciting time. We are working with all our stakeholders to significantly improve near term profitability...," Chief Executive Officer John Neal said in a statement.

(Reporting by Noor Zainab Hussain in Bengaluru; Editing by Arun Koyyur)

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