Lloyd’s of London has announced that chief executive officer John Neal plans to step down in 2025 after more than six years leading the insurance and reinsurance marketplace.
Following his departure, Neal (pictured) is set to assume dual roles at Aon as global CEO of reinsurance and global chairman of climate solutions. The exact timeline for his transition has yet to be determined.
During his tenure at Lloyd’s, Neal led efforts to strengthen the marketplace’s financial position and modernise its operations.
Under his leadership, Lloyd’s reported consistent growth, improved profitability, and upgraded financial strength ratings. Neal also directed initiatives to drive digital innovation and cultural transformation to position the market for long-term success.
Neal’s leadership coincided with significant global challenges, including Brexit, the COVID-19 pandemic, inflationary pressures, and geopolitical uncertainties. He worked to address these issues while promoting the insurance industry’s role in supporting sustainability efforts, including climate change initiatives.
Lloyd’s chairman Bruce Carnegie-Brown acknowledged Neal’s contributions over the 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.
He confirmed that Neal will continue to support both the planned succession of a new chair of the Council of Lloyd’s and the executive leadership transition. This follows the appointment of Jane Warren as a corporate external member of its council. Warren, representing Liberty Corporate Capital Limited, will begin her three-year term on Feb. 1, 2025. Her appointment follows an open vacancy.
Neal expressed gratitude for his time at Lloyd’s and optimism about his future role at Aon.
“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 said.
He added: “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.”
