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Lloyd’s of London chief executive John Neal is leaving the world’s oldest insurance market to take up a new role leading reinsurance and the environment at broker Aon.
Mr Neil’s departure from one of the City of London’s most senior positions comes as Lloyd’s prepares to replace Bruce Carnegie Brown as chairman with Charles Roxburgh, a former Treasury civil servant. Neal’s move was first reported by Insurance Insider and confirmed by both companies on Wednesday.
Mr Neil was appointed as head of Lloyds in 2018. He steered the market through the disruption caused by COVID-19, maintained in-person trading and oversaw a return to profitability despite soaring losses due to natural disasters, and helped Lloyds achieve its best underwriting performance since. 2007.
But he also drew criticism for delays in a much-vaunted IT project aimed at replacing back-office systems that had been on the market for decades.
This is a developing story.
