Lloyd’s has confirmed that CEO John Neal will step down in 2025 after more than six years leading the world’s largest insurance and reinsurance marketplace.
Neal will join Aon as Global CEO of Reinsurance and Global Chairman of Climate Solutions. His departure date from Lloyd’s will be announced later.
Under Neal’s leadership, Lloyd’s underwent a strategic reset that improved financial performance and strengthened its market position. He drove sustainable growth, boosted profits, and reinforced the market’s long-term financial stability. Neal also spearheaded initiatives focused on digital transformation, operational efficiency, and cultural change to modernize the Lloyd’s market.
Neal’s tenure saw Lloyd’s navigate significant challenges, including Brexit, inflation, rising interest rates, the COVID-19 pandemic, and geopolitical tensions. His leadership helped Lloyd’s maintain upgraded financial strength ratings and consistently deliver top-tier results.
Neal also played a key role in advocating for the insurance sector’s global importance. He built partnerships with the UN and governments, promoting Lloyd’s contributions to climate transition efforts and highlighting the industry’s role in addressing global risks.
Lloyd’s Chairman, Bruce Carnegie-Brown, praised Neal’s impact since his 2018 appointment.
John has made a tremendous contribution to Lloyd’s. The market is now delivering excellent performance, executing a clear strategy, and providing a valued voice to governments, regulators, and clients. During 2025, John will assist in the transition of both the executive leadership and a new Council Chair.
John Neal expressed his gratitude to Lloyd’s and his colleagues. “I’m proud of what we’ve accomplished. The framework we’ve established ensures Lloyd’s future success. At Aon, I look forward to helping clients address pressing challenges, particularly around climate transition, through innovative reinsurance solutions.”
About John Neal
John Neal has served as Chief Executive Officer (CEO) of Lloyd’s of London since October 2018. Before joining Lloyd’s, he was Group CEO of QBE, a global insurance and reinsurance firm with a significant presence in the Lloyd’s market. At QBE, Neal managed a $14bn gross written premium (GWP) business, overseeing over 14,000 employees across 37 countries.
Neal’s career in the insurance industry began in 1985 at Crowe Underwriting Agency, where he expanded UK GWP from £3mn to £100mn over a decade. He later became the youngest active underwriter at Lloyd’s while working for Bankside Managing Agency. Subsequently, he led a management buyout of Ensign, establishing it as a dedicated Lloyd’s Managing Agency and growing its GWP to $300mn, making it the UK’s leading specialist commercial motor underwriter.
During his tenure at Lloyd’s, Neal has focused on delivering sustainable profitability through underwriting discipline and market modernization. He has emphasized the importance of digital transformation and cultural change within the organization. An immediate priority under his leadership was the successful launch of Lloyd’s Brussels subsidiary, ensuring continued service to customers in the European Economic Area post-Brexit.
In January 2025, it was announced that Neal would be leaving Lloyd’s to join Aon as Global CEO of Reinsurance and Global Chairman of Climate Solutions. His departure is scheduled for later in the year, with the exact date to be confirmed.
