Lloyd’s broker Tysers announces CEO’s departure

A number of insurance companies have seen the departure of their CEOs and other top executives in the past months, including AIG, XL Catlin, Generali and Aviva. Now, another firm is joining that list – Lloyd’s broker Tysers has announced the resignation of its chief executive.

 

The company said Group CEO Chris Elliot is stepping down for personal reasons after 11 years in the role. He will remain an active member of the boards of Tysers and parent company Hawkes Bay Holdings (HBH), providing expertise on strategy and business development.

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Elliot will be succeeded by current HBH and Tysers chairman Christopher Spratt, who will take on the role of interim CEO. The transition, which took effect on Monday, will not affect business continuity or services to clients, the company said.

 

Group COO Stuart Blakeborough said the search for Elliot’s permanent replacement is under way. The company will also announce changes to its senior management team in due time.

 

“The board wish to place on record their sincere thanks to Chris for his many years of dedicated service as CEO of HBH and Tysers,” Spratt said. “We look forward to continuing to work with him as he assumes his new responsibilities on the Boards of HBH and Tysers.”

 

In his 40 years with Tysers, Spratt played an important part in developing the firm’s marine portfolio before moving on to a more general role as group joint managing director. In 2007, he was appointed group chairman.