Lloyd’s of London CEO John Neal set to join Aon
Lloyd’s of London chief executive officer John Neal is set to leave his position this year to join Aon.
Neal was in the leadership position at Lloyd’s for over six years, having joined from QBE, where he was the group CEO for over five years.
The marketplace stated that during his tenure, he led a reset in the strategic direction of the marketplace, “turning the market around to consistently deliver industry-leading performance, placing it in the strongest financial position in recent memory, with sustainable growth and record profits”.
It was also noted in the release that he set up Lloyd’s strategic agenda to deliver digital, operational and cultural change for the market’s long-term future.
Back in September, Lloyd’s reported a jump in profit as its overall profit before tax of £4.9bn in the first half of 2024, up from the figure of £3.9bn reported in the same period of 2023.
Neal is set to join Aon as its global CEO of reinsurance and global chairman of climate solutions, with the leaving date to be confirmed in due course.
Commenting on the news, Neal said: “I will be forever grateful to my colleagues and many others across the Lloyd’s market for the opportunity to put in place a framework that has delivered strong and sustainable financial performance and positions Lloyd’s for future success.”
He added that “at Aon, I’m looking forward to supporting colleagues as they look to serve clients’ reinsurance needs and deliver smart insurance solutions that help address some of the world’s most pressing challenges, especially with regard to the climate transition.”
Sheila Cameron, CEO of the Lloyd’s Market Association commented: “We thank John Neal for his service to the market over the last six years, when he helped restore confidence in the Lloyd’s marketplace leading to record underwriting results.£
“Insurance is now one-third of the City’s GDP and the Lloyd’s Market Association will continue to push forward the agenda of underwriting expertise, digitalisation and cultural reform that will reinforce the position of the Lloyd’s marketplace as the pre-eminent global leader in commercial and specialty insurance,” she added.
Chairman Bruce Carnegie-Brown stated: “Since appointing John as CEO in 2018, he has made a tremendous contribution to Lloyd’s.”
“During 2025, John will continue to support both the planned succession of a new chair of the Council of Lloyd’s and the executive leadership transition,” he concluded.
Last September it was announced that Carnegie-Brown was stepping down from his Chair position, with Treasury veteran Charles Roxburgh set to replace him on 1 May.