By Jean Eaglesham
Lloyd's of London, the world's biggest insurance marketplace, will switch to new leadership later this year.
John Neal is stepping down as chief executive after more than six years in the role, Lloyd's said Wednesday.
Neal oversaw a turnaround of the centuries-old institution after taking the reins in 2018. Tougher underwriting discipline helped move the marketplace from annual losses to multibillion-dollar profits.
During his tenure, insurers and reinsurers contended with a global pandemic, wars, inflation and rising losses from natural catastrophes.
Neal's departure date hasn't yet been announced, nor has a successor been named. He will join insurance broker Aon as its global head of reinsurance, Lloyd's said.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
January 08, 2025 10:03 ET (15:03 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.