Tom Bolt

We are saddened to announce the passing of Tom Bolt, a well-liked and greatly respected figure in the insurance industry, whose career spanned more than four decades. 

Tom first became known to us in the members’ agency world when he joined Marlborough Managing Agency, quickly developing a reputation for fair minded but decisive action. Marlborough was acquired by Berkshire Hathaway as part of a wider transaction to protect the then CGU’s (now Aviva) legacy book of London market insurance and reinsurance. 

Tom played a pivotal role in strengthening oversight at Lloyd’s where he was the second Director of Performance Management. He brought discipline and transparency to the oversight of syndicates at a time when the market faced heightened regulatory and investor scrutiny. He had trademark wit, matched with great homespun philosophy. His tenure was marked by the introduction of rigorous frameworks for underwriting standards, capital adequacy and risk appetite, ensuring Lloyd’s maintained its reputation as the world’s leading specialty insurance marketplace. The changes introduced refinements to data collection and a continuing emphasis on underwriting profitability. Protocols introduced still are in operation today and are a key tool for monitoring syndicate performance, including premium forecasts, risk appetite, capital requirements and expense management monitoring. Patrick Tiernan, Lloyd’s CEO paid tribute to Bolt saying that he “combined rigour with humanity, ensuring reforms were not just technical but also culturally embedded, and that his leadership style was marked by integrity and empathy.”

After leaving Lloyd’s, Tom rejoined Berkshire Hathaway. He spent the first 25 years of his career at Warren Buffett’s insurance business. He left to join AIG in January 2018 as Global Chief Underwriting Officer for General Insurance and later served as Executive Vice President and Chief Risk Officer until his retirement in last year.  

We extend our deepest condolences to his all his family and know he will be profoundly missed by all who knew him.