Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance at Aon and chairman of Climate Solutions, effective following the conclusion of his notice period at Lloyd’s of London where he has served as CEO since October 2018.
Aon said Neal will help lead its efforts to address the growing and complex risks associated with climate change, while continuing to build on the successes seen by the firm’s reinsurance team.
Neal will be based in London, reporting to Andy Marcell, CEO of Risk Capital for Aon, and serve as a member of the firm’s Risk Capital leadership team.
In September, Lloyd’s announced that its Chairman Bruce Carnegie-Brown also will be stepping down, to be succeeded by Sir Charles Roxburgh on May 1, 2025.
“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,” said Carnegie-Brown in a statement from Lloyd’s.
Prior to joining Lloyd’s, Neal served as Group CEO of QBE, a global insurance and reinsurance business, where he was responsible for running a $14 billion gross written premium (GWP) business with over 14,000 employees in 37 countries. Before becoming CEO, he held a number of leadership positions at QBE, including chief underwriting officer and chief operations officer of the firm’s European operations.
Previously, he led a management buyout of Ensign to establish a dedicated Lloyd’s Managing Agency. As CEO of Ensign, he grew GWP to $300 million to create the leading specialist commercial motor underwriter in the UK. He also worked at Bankside Managing Agency, where he was the youngest active underwriter at Lloyd’s, and started his career at the Crowe Underwriting Agency.
Lloyd’s issued the following comment: “During Neal’s tenure, he has led a reset in the strategic direction of the world’s largest insurance 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. Neal has also set up Lloyd’s strategic agenda to deliver digital, operational and cultural change for the long-term future of the market.”
In addition to spearheading the market’s return to strong financial performance and upgraded financial strength ratings, Lloyd’s said that Neal “guided Lloyd’s through a number of complex challenges including Brexit, rising interest rates and inflation, a global pandemic and geopolitical conflict.”
“Since appointing John as CEO in 2018, he has made a tremendous contribution to Lloyd’s. 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 worlds,” according to Carnegie-Brown.
Lloyd’s CEO, John 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. 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.”
Topics
Excess Surplus
Reinsurance
Lloyd’s
Aon
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