Lloyd’s CEO John Neal is in hospital after sustaining serious injuries in a bike accident on the weekend but is expected to make a full recovery.

Lloyd’s released a statement advising that in his absence Lloyd’s will be led by COO and CFO Burkhard Keese and Chief of Markets Patrick Tiernan, with support from Lloyd’s wider executive committee and oversight from Chairman Bruce Carnegie-Brown.

The collision, involving a car, happened on Saturday. No further details were provided on the injuries or Mr Neal’s expected recovery timeframe.

Mr Neal was appointed Lloyd’s CEO in 2018, taking over the role from Inga Beale. Previously he was QBE Group CEO, based in Australia.

Lloyd’s last week reported a return to profitability as it continues to pursue an improvement program and an overhaul of its technology and systems.

The business reported a profit before tax of £2.3 billion ($4.04 billion) for last year, following a £900 million ($1.58 billion) loss in 2020.

Gross written premium increased to £39.2 billion ($68.9 billion), up from £35.5 billion ($62.4 billion) in 2020 and the combined ratio improved to 93.5% from 110.3%.