Lloyd's has announced the appointment of Tom Bolt as its new Underwriting Performance Director, replacing Rolf Tolle who steps down as Franchise Performance Director at the end of the year. Although the title changes, we understand the role is largely the same. Mr Bolt is currently Managing Director of Marlborough, Flagstone Re's Lloyd's operations, and is anticipated to join Lloyd's in the Autumn, allowing some time for handover between the two.

Lloyd's Underwriting Performance Directorate, which Mr Bolt will head, is responsible for working with Lloyd's businesses to improve the commercial performance of the market. The Directorate monitors adherence to underwriting guidelines and each syndicate's performance against its business plan.

The Underwriting Performance Director is a key member of Lloyd's Franchise Board which sets Lloyd's franchise strategy and is responsible for risk management and profitability targets across the market, and in that capacity Mr Bolt will have an influential role in considering new admissions.

The full press release can be found by clicking here.