John Neal has today been welcomed by Lloyd’s as its new Chief Executive Officer; he replaces Inga Beale who has led the specialist re/insurance marketplace for the past five years.
Neal, whose appointment was approved unanimously by a meeting of the Council of Lloyd’s, most recently served as Group CEO of QBE, a global re/insurer with a significant Lloyd’s footprint.
As head of QBE, Neal was responsible for running a $14 billion gross written premium business with over 14,000 employees in 37 countries.
He has also been associated with the Lloyd’s market throughout his career, having started there as an underwriter in 1985 before later becoming CEO of the Ensign Managing Agency.
“On behalf of the Lloyd’s market, I am delighted to welcome John to Lloyd’s,” said Chairman of Lloyd’s, Bruce Carnegie-Brown.
“He joins us at an important time and will continue the drive to improve the market’s long-term success through a number of critical areas of focus, including improving the market’s underlying performance, and the launch of Lloyd’s Brussels subsidiary.”
“John brings a wealth of experience and real enthusiasm for tackling the challenges ahead. I am confident that Lloyd’s will continue to thrive under his leadership.”
Commenting on his appointment, Neal said, “It is a privilege to take the helm at Lloyd’s, the world’s most important commercial insurance and reinsurance marketplace, and the place where I started my career in 1985.”
“The Lloyd’s market is like no other (re)insurance organisation in the world,” he added.
“With an unrivalled pool of underwriting expertise, and a reputation built on 330 years of providing insurance solutions for our customers, it plays a unique role in supporting businesses and economies through its unmatched global reach and customer focus.”
“As I begin this role, it is important that we focus on maintaining the market’s reputation for innovation, accelerating our efforts to modernise the ways in which we do business, and take the time to listen to all of our stakeholders, who are critical to the future wellbeing of the Lloyd’s market.”