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Neal takes up innovation baton at Lloyd’s

Lloyd’s new CEO John Neal will place a priority on modernising the market, continuing an innovation focus led by predecessor Inga Beale.

Mr Neal, who was  previously the Sydney-based Group CEO of QBE Insurance, took over last Monday at Lloyd’s, where he started his insurance career in 1985.

“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,” he said.

Ms Beale, the only women to have led Lloyd’s since it was founded 332 years ago, announced earlier this year she was leaving the market.

Chairman Bruce Carnegie-Brown says key issues for Mr Neal include improving the market’s underlying performance and the launch of the Lloyd’s Brussels subsidiary.

“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,” he said.