Bolt to depart from Lloyd’s in 2016

Lloyd’s of London has revealed that Tom Bolt, its director of performance management, will depart in mid-2016 after almost seven years of service.

Lloyd’s said it will start the search process to find Bolt’s successor immediately.

Bolt was appointed in September 2009, and is a member of Lloyd’s executive team. He is responsible for the commercial oversight of the Lloyd’s market, working with individual syndicates to improve the market’s overall performance.

During his tenure, he led the introduction of a minimum standard framework for Lloyd’s managing agents, delivered the claims transformation programme that significantly improved the speed of claims payments and oversaw significant improvements that have underpinned growth in delegated authority distribution network, according to Lloyd’s.

“Tom has made an outstanding contribution to the strength and success of the Lloyd’s market as it is today,” said Inga Beale, chief executive officer of Lloyd’s.

“He is respected and admired in the market, working closely with the underwriting community to ensure that the Lloyd’s market can flourish in what have been challenging times. I have enjoyed working alongside Tom immensely and wish him every success in the future.”

Bolt added: “Working at Lloyd’s has been a highlight of my career, and the decision to leave a difficult one. I have enjoyed working alongside the market and my team at Lloyd’s, and proud of what we have achieved together. However the time is now right for me to hand over the reins and explore new opportunities”.