Lloyd's of London CEO Inga Beale to step down

Lloyd’s of London said on Friday that chief executive officer, Dame Inga Beale, will step down next year after leading the global insurance and reinsurance market for five years.

Lloyd's said Beale leaves it with "a strengthened reputation as one of the most respected and trusted insurance brands in the world", with a strong and experienced leadership team focused on delivering Lloyd’s strategic priorities.

Beale said: "The decision to leave has been a tough one and when the time comes I will miss the energy, innovative spirit and expertise that I come across every working day. Leading Lloyd’s is an honour and I am proud to have played a part in ensuring that it remains relevant and fit for purpose for the future. The world trusts Lloyd’s to be there when it matters the most and I believe it is well placed for the next 330 years.”

Chairman Bruce Carnegie-Brown said that during her time at Lloyd’s, Beale set in motion a series of changes aimed at modernising the market and making it more efficient and inclusive.

"Her boldness and persistence have generated the momentum required to bring about real change. I have very much enjoyed working with Inga, and I am grateful for the support she has given me in my first year as chairman."

Beale's exact leaving date will be confirmed in due course.