Loverdos was born May 15, 1956, in Patra, Greece. He studied Law at the Aristotle University of Thessaloniki (graduating in 1978) with post-graduate studies at the Institute for European Studies in Brussels, Belgium. He received his Ph.D. in 1986 from the Aristotle University of Thessaloniki.
In October 2009 he was appointed as a Minister for Employment and Social Security. He held the post until September 2010, when he was appointed to the post of Minister for Health and Social Solidarity.
Loverdos was married to the former Penelope Papaioannou. The couple have since divorced. They have three children.