Lloyd’s of London has announced today that the re/insurance market’s Chief Financial Officer John Parry is set to leave the Corporation, after 17 years.
Parry became Chief Financial Officer of Lloyd’s in December 2014 and sits on both the Lloyd’s Board and Executive Committee.
As CFO, he has been responsible for financial reporting for the Corporation and the Lloyd’s market, capital setting and capital adequacy, tax, treasury and investment management.
Parry has also been instrumental in the Lloyd’s market’s engagement with insurance-linked securities (ILS) funds lately, as it looks to the capital market for a potential source of risk financing.
Inga Beale, Chief Executive Officer at Lloyd’s, commented, “During his 17 years at Lloyd’s, John has made an exceptional contribution to Lloyd’s Corporation and market. In a period of unparalleled change in the insurance industry, his knowledge, experience and great commitment to the Lloyd’s market have earned him the respect of all those who work with him. I have very much enjoyed working with John and value the support he has given me. I wish him every success in the future.”
John Parry also said, “I have thoroughly enjoyed my time with Lloyd’s and working for this great market. I have though decided that now is the right time to leave and look for new challenges. My passion for Lloyd’s is undimmed and I am keen to ensure a smooth transition.”
Parry had originally joined Lloyd’s in August 2001, leading the market’s solvency and regulatory reporting requirements, as well as the review and agreement process of capital requirements for underwriting for syndicates.
Parry’s leaving date will be announced in due-course, Lloyd’s said today. The Corporation is set to begin a search for a successor immediately.