Tom Bolt is quitting Lloyd’s, it has been announced.
The director of performance management, who took up his role in 2009, has decided to leave by the middle part of 2016.
By then he will have served almost seven years as the market’s enforcer of underwriting standards, a similar length of tenure to his predecessor.
It is not clear where Bolt is going next or who will replace him.
“Lloyd’s will start the search process to find Tom’s successor immediately,” said a press release.
Bolt has been responsible for the commercial oversight at Lloyd’s, working with individual syndicates to improve overall performance.
“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 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,” said Beale.
Bolt led the introduction of a minimum standard framework for Lloyd’s managing agents, delivered the market’s Claims Transformation Programme to up the speed of claims payments, and oversaw improvements to underpin growth in its delegated authority distribution network.
“Working at Lloyd’s has been a highlight of my career, and the decision to leave a difficult one,” said Bolt.
Rolf Tolle, Bolt's predecessor as franchise performance director at Lloyd’s, went on join the board of Lloyd’s managing agency Beazley Furlonge.
Tolle retired as franchise performance director at Lloyd’s in December 2009 after seven years in the role, during which time he was widely credited for establishing a new and successful partnership between the Corporation of Lloyd’s and the market.“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,” Bolt added.