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Lloyd’s of London chief executive John Neal will leave the world’s oldest insurance market to take a new job leading reinsurance and climate at broker Aon.
Neal’s departure from one of the City of London’s top jobs comes as Lloyd’s prepares for former Treasury civil servant Sir Charles Roxburgh to replace Bruce Carnegie-Brown as its chair. Neal’s move was first reported by Insurance Insider and was confirmed by the companies on Wednesday.
Neal was appointed to lead Lloyd’s in 2018. He steered the market through the disruption of Covid-19, preserving face-to-face trading and overseeing a recovery in profitability despite surging losses from natural catastrophes, helping Lloyd’s to deliver its best underwriting performance since 2007.
But he also drew criticism over delays to a much-vaunted IT project aimed at replacing the market’s decades-old back office systems.
This is a developing story.
