Former QBE boss John Neal has been appointed Lloyd’s CEO, and will start on October 15.

He was chosen as successor to Inga Beale following a meeting of the Council of Lloyd’s, where his appointment was approved unanimously.

Mr Neal was most recently Group CEO of QBE, based in Sydney, a role he began in 2012 and left in September last year. Prior to that he held a number of senior roles in QBE’s London office.

Chairman of Lloyd’s Bruce Carnegie-Brown says Mr Neal will “continue Lloyd’s focus on delivering sustainable profitability, through a combination of underwriting discipline and market modernisation”.

He paid tribute to Ms Beale’s contribution during “a challenging time for the market”.

More details in our regular bulletin on Monday.