Beale to step down from Lloyd’s at year end

Inga Beale, the chief executive of Lloyd’s, will step down at the end of the year after four years in the role, according to market sources.

“It is widely understood that she will step down at the end of the year,” one source told Intelligent Insurer. “She will have been in the role for four years by then and wants to seek a new challenge.”

Beale has not commented on the rumours; Intelligent Insurer has sought clarification from the market, but Lloyd’s would not comment at this stage.

Beale was appointed as the CEO of the historic insurance market in January 2014. She was the first female CEO in the market’s history and has overseen a move in the market towards embracing change and new technology as well as a widening of its international scope.

Prior to taking the helm at Lloyd’s, Beale spent four years with Zurich Insurance Group, including a period as global chief underwriting officer. She was previously group CEO of Swiss reinsurer Converium and while there, she led a major turnaround of the business before it was acquired by SCOR in 2007.

Beale started her career as a reinsurance underwriter with Prudential before spending 14 years in a variety of international roles for GE Insurance Solutions.  She is a member of the UK Government’s Financial Services Trade and Investment Board, the UK Department for Education’s Business Advisory Group, the London Mayor’s Business Advisory Board, the Geneva Association Board, and is President of the UK Chartered Insurance Institute.

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