Lloyd’s, the world’s oldest insurance and reinsurance marketplace, announced that its Chief Executive Officer (CEO), John Neal, will step down in 2025 to join broking group Aon as Global CEO of Reinsurance and Global Chairman of Climate Solutions.
His departure marks a significant transition for both organisations, reflecting Neal’s influence and the evolving priorities of the insurance and reinsurance industries.
Neal’s time at Lloyd’s was marked by a focus on transformation, including improving financial performance, operational efficiency, and cultural and digital modernisation.
During his tenure, Lloyd’s achieved record profits and strengthened its financial stability, while also navigating challenges such as Brexit, rising inflation, the COVID-19 pandemic, and geopolitical uncertainties.
Neal positioned Lloyd’s to address long-term global risks, including climate change, while reinforcing its relevance to stakeholders worldwide.
Lloyd’s Chairman, Bruce Carnegie-Brown, stated: “Since appointing John as CEO in 2018, he has made a tremendous contribution to Lloyd’s. Today we see excellent performance at Lloyd’s, real strategic intent and execution, and an industry-leading voice that is valued by governments, regulators, and customers around the world. During 2025, John will continue to support both the planned succession of a new Chair of the Council of Lloyd’s and the executive leadership transition.”
Reflecting on his time at Lloyd’s and looking ahead to his new role, Neal said: “I will be forever grateful to my colleagues and many others across the Lloyd’s market for the opportunity to put in place a framework that has delivered strong and sustainable financial performance and positions Lloyd’s for future success.
“At Aon, I’m looking forward to supporting colleagues as they look to serve clients’ reinsurance needs and deliver smart insurance solutions that help address some of the world’s most pressing challenges, especially with regard to the climate transition.”
At Aon, Neal’s appointment signals a commitment to tackling the complex risks associated with climate change while advancing the company’s leadership in reinsurance. Aon highlighted Neal’s strategic expertise and industry experience as critical assets for addressing emerging global challenges.
Greg Case, CEO of Aon, said: “John’s career is celebrated for looking ahead to the future and investing in technology and talent to position the insurance industry for greater impact and growth. He brings significant and relevant experience that will advance our 3×3 Plan to accelerate our Aon United strategy, unlock integrated climate solutions, and ultimately create key points of difference in how we serve our clients across risk and people issues.”
Andy Marcell, CEO of Risk Capital at Aon, also welcomed Neal: “His leadership will be instrumental in supporting the team to address the challenges organisations face across the megatrends of Trade, Technology, Weather, and Workforce, and developing solutions that enable our clients to thrive in a rapidly changing world.”
Neal’s new role reflects his career-long focus on delivering strategic growth and solutions for complex challenges. Prior to joining Lloyd’s, Neal served as Group CEO of QBE, overseeing a $14 billion business operating in 37 countries. Earlier in his career, he led a management buyout of Ensign, growing it into a leading commercial motor underwriter in the UK.
Neal’s transition underscores the growing emphasis within the insurance sector on addressing global issues, particularly climate-related risks.
As Lloyd’s plans for a leadership transition and Aon continues to advance its integrated Risk Capital capabilities, Neal’s move highlights the shifting priorities and opportunities within the industry.
