Lloyd’s of London chief executive John Neal to leave for Aon
John Neal was appointed chief executive in 2018 and has led the business through a tumultuous economic and geopolitical climate.
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Your support makes all the difference.Insurance marketplace Lloyd’s of London has announced its boss will be leaving the company this year to head up re-insurance and climate divisions at Aon.
John Neal was appointed chief executive in 2018 and has led the business through a tumultuous economic and geopolitical climate, including the pandemic, Brexit, and Russia’s war in Ukraine.
He has also steered efforts to reform the company’s culture following issues of sexual harassment and inappropriate behaviour at the more than 300-year-old firm.
Mr Neal is set to join Aon as its global chief executive of re-insurance and global chairman of climate solutions, with his leaving date still to be confirmed.
Lloyd’s of London made a pre-tax profit of £4.9 billion in the year to the end of June 2024.
It marked a significant rebound after the company sank to a loss in 2022 after handing out billions to customers as claims from the conflict in Ukraine ramped up.
It also faced a big hit during the Covid-19 pandemic due to handing out payouts for claims including business interruption and the cancellation of events.
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
Lloyd’s has also put in place plans to stamp down on misconduct across the marketplace under Mr Neal’s leadership.
Mr Neal said change was needed after a 2019 poll of more than 6,000 staff found that nearly one in 10 workers had witnessed sexual harassment in the past year.
It also discovered that nearly a quarter had seen excessive drinking of alcohol in the market over the period.
Bruce Carnegie-Brown, the chairman of Lloyd’s, said Mr Neal had made a “tremendous contribution” to the business over the past six years.
“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,” he said.
Mr Neal said he would be “forever grateful” to his colleagues and staff across the Lloyd’s “for the opportunity to put in place a framework that has delivered strong and sustainable financial performance”.
He said he was looking forward to his new role at Aon to “help address some of the world’s most pressing challenges, especially with regard to the climate transition”.