Lloyd’s of London chief executive John Neal to leave for leadership role at Aon
Share:
Lloyd's of London, the insurance marketplace, has announced that its chief executive will be departing this year to take up leadership roles at Aon. John Neal, who took the helm in 2018, has guided the company through a period of economic and geopolitical turbulence, including the pandemic, Brexit, and the conflict in Ukraine. He also spearheaded efforts to reform the culture of the firm, which is over 300-years-old, following instances of sexual harassment and inappropriate behaviour.
Mr Neal is set to become Aon's global chief executive of re-insurance and global chairman of climate solutions, with his departure date yet to be confirmed. Lloyd's of London reported a pre-tax profit of £4.9bn for the year ending June 2024, marking a significant recovery after the company posted a loss in 2022 due to paying out billions in claims related to the Ukraine conflict.
The company also took a substantial hit during the Covid-19 pandemic as it paid out claims for business interruption and event cancellations. Under Mr Neal's leadership, Lloyd's has implemented plans to clamp down on misconduct across the marketplace. Mr Neal stated that change was necessary after a 2019 survey of over 6,000 employees revealed that nearly one in ten had witnessed sexual harassment in the previous year, and almost a quarter had observed excessive alcohol consumption in the market during that time.
Bruce Carnegie-Brown, the chairman of Lloyd’s, praised Mr Neal for his "tremendous contribution" to the business over the past six years. He said: "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.'.
