Alexander Baugh to join council of Lloyd’s

Neil Maidment is stepping down from the council at the end of the month

Alexander Baugh to join council of Lloyd’s

Insurance News

By Josh Recamara

Lloyd’s, the global marketplace for insurance and reinsurance, has announced updates to its council membership to address an upcoming vacancy.

Alexander Baugh has been appointed as an independent nominated member of Lloyd’s council, subject to regulatory approval. He will also assume the roles of chair of Lloyd’s risk committee and member of Lloyd’s audit committee.

The appointment follows the planned departure of Neil Maidment, who will step down from Lloyd’s council at the end of the month after serving nine years on it and the former franchise board.

Baugh brings extensive experience from his three-decade career at AIG, where he held various leadership roles in the US and internationally. He served as global chief underwriting officer for liability and financial lines until 2022, following an 18-month tenure as president of AIG’s North America business. Baugh also served on the general insurance leadership team and was a board member of Ascot for five years.

Bruce Carnegie-Brown, chairman of Lloyd’s, expressed his excitement over Baugh’s appointment.

“Alexander brings deep risk experience from his time at AIG, both as chief risk officer but also later in his career as global underwriting officer and CEO for North America,” Brown said. “He also has a deep connection with Lloyd’s, having worked in the London market for 12 years. He has maintained this connection through AIG’s two Lloyd’s syndicates through Ascot’s board when it was owned by AIG.”

Lloyd’s also recently announced the pending departure of chief executive officer John Neal. He plans to leave this year after more than six years leading the marketplace.

During his tenure, Neal led Lloyd’s initiatives in driving digital innovation and cultural transformation to position the company for long-term success. He also helped it grow by improving its profitability and upgrading its financial strength ratings.

Neal was also at the helm when Lloyd’s and the rest of the world faced several global challenges, including Brexit, the COVID-19 pandemic, inflationary pressures and geopolitical uncertainties.

Following his departure from Lloyd’s, Neal is expected to assume dual roles at Aon as global CEO of reinsurance and global chairman of climate solutions, although the timing for these moves have yet to be determined.

“I look forward to welcoming Alexander to the Council of Lloyd’s and thank Neil for his significant contribution to the governance of Lloyd’s over so many years,” Brown said in a statement.

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