People in the News
John Neal appointed as Lloyd’s CEO
Lloyd’s has confirmed that former QBE boss John Neal will replace outgoing CEO Inga Beale.
In a statement, Lloyd’s said Mr Neal will take the helm in just over a month’s time, well before Ms Beale’s expected departure, which was slated for next year.
Mr Neal’s appointment was unanimously approved by the Council of Lloyd’s, the statement said.
The Corporation said the executive’s whole career had been associated with Lloyd’s, first as an underwriter and later as CEO of the Ensign Managing Agency.
But Mr Neal’s most recent post was by far his biggest as CEO of Australian reinsurance giant QBE, a position he left at the end of last year.
There, he was responsible for running a US$14 billion book for a company with 14,000 employees across 37 countries, Lloyd’s said.
In a statement, Lloyd’s chairman Bruce Carnegie-Brown said: “An immediate priority will be the successful launch of Lloyd’s Brussels subsidiary which will enable Lloyd’s to continue serving its customers in the European Economic Area after Brexit.”
Mr Neal, who is in his mid-fifties, will return to his native England to take up the post.
Mr Carnegie-Brown, who has worked alongside Ms Beale since he took the chairman role last year, said he was grateful for the outgoing CEO for her five years of leadership in what he described as a “challenging” time for the market.
Lloyd’s said Mr Neal’s appointment was still subject to approval and consent from the Prudential Regulation Authority and the Financial Conduct Authority.
JLT Re appoints head of cyber analytics
Reinsurance broker JLT Re has appointed a head of cyber analytics. Jamie Pocock joined JLT in 2010 and has been a member of the JLT Re Analytics Actuarial team.
The broker said that with the cyber market growing at more than 20 percent per year, the need to understand and manage cyber risk challenges is more important than ever.
Tokio Marine swoops for Munich Re head of cyber innovation
Tokio Marine Holdings (TMH) has appointed Munich Re’s Daljitt Barn to the newly-created post of global head of cyber risk.
Mr Barn was most recently head of cyber innovation and consulting services at Munich Re, where he was instrumental in setting up the cyber team within corporate underwriting, creating a Munich Re-wide cyber community and developing the group-wide cyber insurance strategy, according to a corporate statement.
Prior to that, he was cyber director at PwC where he built and managed the cyber risk team in the insurance and investment management sectors.
In his new role based in London, Mr Barn will be responsible for the development of Tokio Marine Group’s cyber strategy.
He will help with cyber risk quantification and control, as well as innovation and partnership opportunities.
Vandendael leaves Lloyd’s to become Everest CEO international
Lloyd’s chief commercial officer Vincent Vandendael has decided to leave the corporation after almost six years to become CEO international at Everest Insurance in early 2019.
Mr Vandendael joined Lloyd’s in December 2012 as chief commercial officer, responsible for all business development. He also leads Lloyd’s global network, which extends to 31 offices which support Lloyd’s licences to operate in over 200 territories worldwide.
Mr Vandendael is credited for his role in driving innovation in the Lloyd’s market and in establishing the Lloyd’s Brussels subsidiary, which is due to open in 2019 ahead of the UK’s exit from the European Union.