Lloyd’s Appoints Stephane Flaquet as Chief Operating Officer
London, August 5, 2025 – Lloyd’s, the world’s leading insurance and reinsurance marketplace, has named Stephane Flaquet as its new Chief Operating Officer (COO), effective September 1, 2025, subject to regulatory approval. Flaquet, a 15-year veteran of Hiscox, will join the Lloyd’s Executive Team and report directly to Chief Executive Officer Patrick Tiernan.
Flaquet succeeds George Marcotte, who has served as interim COO since September 2024 and will return to his role at Accenture. In his new position, Flaquet will oversee Lloyd’s operations, driving services for both the market and the corporation. His responsibilities include executing the operations strategy, managing technology, data, and change initiatives, and enhancing the operational resilience of market infrastructure. He will also lead all activities related to Blueprint Two, Lloyd’s modernization program aimed at digital transformation and process efficiency.
Flaquet brings 30 years of experience in building high-performing teams and driving complex change across international markets. At Hiscox, where he worked since 2010, he held senior roles, most recently as Group Chief Operations and Technology Officer. Previously, he served as COO for Hiscox Europe, Group IT Director, CEO of Hiscox Europe, and Group Chief Transformation Officer, as well as interim CEO for Hiscox UK. Before Hiscox, he held leadership positions at AIG, Capital One, and Paribas across France, the UAE, and Spain.
“After a thorough search, I am confident that Stephane is the right person to lead Lloyd’s Operations function,” said Tiernan. “His experience will be integral to delivering operational excellence, flexibility, and scalability, driving efficiencies and modern working practices to meet the challenges of our evolving insurance market.” Tiernan also thanked Marcotte for his interim leadership and contributions toward Lloyd’s strategic goals.
The appointment follows a series of leadership changes at Lloyd’s in 2025. Nathan Adams was named Chief People Officer, bringing HR and transformation expertise from Aviva and Barclays. Alexandra Cliff was confirmed as Chief Financial Officer on May 1, succeeding Burkhard Keese, who shifted focus to capital strategy and the London Bridge 2 initiative. Former CEO John Neal stepped down in May after over six years, transitioning to senior roles at Aon.
Public sentiment on X about the appointment is limited, with no direct mentions of Flaquet’s role, though broader discussions criticize Lloyd’s leadership for resisting regulatory changes, reflecting some distrust in corporate priorities. These views are inconclusive but highlight ongoing scrutiny of Lloyd’s governance.
Flaquet’s extensive background in operations and technology positions him to advance Lloyd’s digital transformation and operational resilience, aligning with the marketplace’s strategic vision for a modernized, efficient future.
Sources: Lloyd’s, Insurance Business, The Insurer, Reinsurance News