Lloyd’s appoints Allianz's Burkhard Keese as new chief financial officer

Lloyd’s of London, the specialist insurance and reinsurance market, has appointed Allianz's Burkhard Keese has new chief financial officer (CFO), succeeding John Parry.

Parry announced his departure in May last year following 17 years at the corporation. He joined Lloyd’s in August 2001, and had been the CFO since December 2014.

Keese's appointment has been unanimously approved by the Council of Lloyd’s, and he will take up his new position on April 1, 2019, following 14 years at Allianz Group. Since 2012 he has been the CFO of Allianz Deutschland AG, Germany's largest insurer with over €34 billion in premiums. Prior to this, he was executive vice president and chief operating officer of the global finance function of Allianz.

During his time as CFO of Allianz Deutschland AG, Keese is said to have successfully implemented the internal models for Solvency II, introduced a value generating growth strategy and initiated several large transformation programmes. As the CFO of Allianz Germany, he has also been responsible for the firm’s €300bn investment portfolio.

Keese’s responsibilities as Lloyd’s CFO will include financial reporting for the corporation and the market, capital setting and capital adequacy, tax, treasury and investment management.

John Neal, chief executive officer of Lloyd’s, said: “I am delighted to welcome Burkhard to Lloyd’s. He is an accomplished chief financial officer with leadership experience across financial, capital and investment management as well as proven expertise in business transformation."

“Burkhard joins Lloyd’s at an exciting time. We are working with all our stakeholders to significantly improve near term profitability and ensure Lloyd’s remains at the forefront of commercial, corporate and specialty insurance and reinsurance for years to come,” Neal added.

Keese commented: “It has been a tough decision to leave Allianz Deutschland, but I’m excited to join Lloyd’s in 2019 as its chief financial officer. For me, it is an incredible opportunity to play a part in Lloyd’s success.

“For 330 years Lloyd’s has been taking on the world’s risks and that longevity demonstrates its enduring relevance. As one of the oldest and most respected insurance brands in the world, there is nothing else like it, and I’m thrilled to be given this opportunity.”