Richard Ward (businessman)
Richard Ward (born 1957) joined the Ardonagh Group, in September 2018 as executive chairman of specialty. Ardonagh are one of the world's leading independent insurance brokers.
Ward is on the board of Direct Line Group as the senior independent non-executive director and chair of the remuneration committee, having joined in January 2016.
Prior to Ardonagh, Ward was executive chairman of Cunningham Lindsey from June 2014.{{Cite web|date=2014-05-13|title=Cunningham Lindsey names Richard Ward as chairman|url=https://www.postonline.co.uk/node/2344374|access-date=2020-08-28|website=Insurance Post|language=en}} Cunningham Lindsey is a provider of claims management and risk services, with over 7,000 employees in 60 countries.
In addition to Cunningham Lindsey, Ward served as non-executive chairman of Brit Insurance, from 2014 until 2018. Ward also served as a non-executive director of Partnership Assurance Group plc between 2013 and 2016 and was a member of the PRA Practitioner Panel of the Bank of England from 2015 until 2020.
Prior to these roles, Ward was chief executive of Lloyd's of London, from 2006 to 2013.{{Cite news|last=Quinn|first=James|date=2013-08-17|title=Sunday Interview: Lloyd's of London boss Richard Ward|language=en-GB|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/10249482/Sunday-Interview-Lloyds-of-London-boss-Richard-Ward.html|access-date=2020-08-28|website=The Daily Telegraph}}
Ward previously worked for over ten years at the London based International Petroleum Exchange (IPE), the second largest energy trading exchange, as both chief executive officer and vice-chairman.
Prior to the IPE, Ward held a range of senior positions at BP and was head of marketing and business development for energy derivatives worldwide at Tradition Financial Services.
Between 1982 and 1988, Ward worked as a senior physicist with the Science and Engineering Research Council, leading a number of research development projects.
He is married with two children and lives in London.
Education
He graduated from the University of Exeter with a BSc, 1st Class Hons in chemistry and holds a PhD in physical chemistry.[http://www.exeter.ac.uk/honorarygraduates/2009/ceremony5.shtml The University of Exeter Honorary Graduates 2009-10]
Career
His initial career was as an applied scientist, first for the government agency Science and Engineering Research Council,[http://www.cii.co.uk/media/3822308/the_jounal_complete_singles_aug_sep_new_low.pdf 'On The Ward' (Richard Ward So Far), The Chartered Insurance Institute Journal, September 2012, p.16] at the Rutherford Appleton Laboratory near Oxford and later for BP, where he moved into management.[https://www.standard.co.uk/business/markets/interview-richard-ward-lloyds-of-london-7312320.html London Evening Standard, Interview: Richard Ward Lloyd's of London (CV Milestones), 2012-01-27]
He was chief executive of the International Petroleum Exchange (IPE) from 1999 to 2005 and vice chairman from 2005 to 2006.
He was the longest-serving CEO at Lloyd's of London, [http://ir.theice.com/common/download/download.cfm?companyid=ICE&fileid=89534&filekey=c040d770-27e0-49ca-b920-5be4f0b64c41&filename=237414.pdf IPE Chief Ward Becomes Vice Chairman Following Successful Adoption of All-Electronic Trading 2005-10-25] during which time, he led a transformation of the business and introduced digitisation of many of the processes, particularly in claims.
As executive chairman of Cunningham Lindsey from 2014 to 2018, he led a major transformation and restructure of the business and carried out a successful trade sale of Cunningham Lindsey to Sedgwick.
As non-executive chairman of Brit Insurance,{{Cite web |last=Gray |first=Alistair |date=2013-12-10 |title=Richard Ward of Lloyd’s of London joins Brit as owners eye exit |url=https://www.ft.com/content/54113514-61ab-11e3-aa02-00144feabdc0 |url-access=subscription |access-date=2020-08-28 |website=Financial Times}} he took the company public in 2014 and led a successful sale of the company in February 2015.
As a member of the PRA Practitioner Panel, he served as rotating chair of the insurance sub-committee, an independent statutory panel which represents the interests of practitioners regulated by the Bank of England.
References
{{Reflist}}
External links
- [https://www.insuranceday.com/generic_listing/interviews/richard-ward-the-transformer.htm?origin=internalSearch Richard Ward: The transformer], Insurance Day, January 2015
- [http://www.insuranceinsider.com/-1251884/6 Cunningham Lindsey has London targeted in TPA push], Insurance Insider, November 2014
- [http://www.postonline.co.uk/post/interview/2299046/q-a-richard-ward-passing-the-lloyd-s-baton Q&A: Richard Ward: Passing the Lloyd's Baton], Post Online, October 2013
- [http://www.insurancetimes.co.uk/ward-insurers-face-backlash-over-bank-scandals/1398574.article Dr Ward: Insurers face backlash over bank scandals], the Insurance Times, September 2013
- [https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/insurance/9292038/Lloyds-of-London-CEO-Ward-sets-out-moves-away-from-risk-amid-euro-fears.html Lloyd's of London CEO Ward sets out moves away from risk amid euro fears] The Daily Telegraph May 2012
- [https://www.theguardian.com/world/2012/apr/12/lloyds-london-warns-risks-arctic-oil-drilling Arctic Oil Rush Will Ruin Ecosystem, Warns Lloyd's of London] The Guardian April 2012
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Category:Alumni of the University of Exeter