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

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


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