Brit Insurance Holdings has appointed outgoing Lloyd’s CEO Richard Ward as Chairman, effective from February 1.

He replaces Nick Prettejohn – Dr Ward’s predecessor as CEO of Lloyd’s – who left this year to join the Prudential Regulation Authority board.

Dr Ward has previously worked as CEO at the International Petroleum Exchange, later rebranded ICE Futures, and in senior positions with BP. He is a board member of Partnership Assurance Group.

He will leave Lloyd’s at the end of the month. His successor has not yet been named.