Lloyd’s of London Appoints its First Female CEO

Lloyd’s of London named Inga Beale as its new chief executive officer (CEO), the first time that the venerable 325-year old insurance market has appointed a female to the top position.

Beale, who will join Lloyd’s in January, is currently CEO of reinsurer Canopius. She will succeed Richard Ward, who announced in July that he would be stepping down as Lloyd’s CEO after eight years and is moving to Brit Insurance Holdings to take up the post of chairman.

“I am absolutely delighted that we have appointed Inga as chief executive,” Lloyd’s chairman John Nelson said in a statement.

“She has 30 years’ experience in the insurance industry. Her CEO experience, underwriting background, international experience and operational skills, together with her knowledge of the Lloyd’s market, make Inga the ideal chief executive for Lloyd’s.”

Beale said of her appointment: “Lloyd’s is already an international leader, but this unique market has an extraordinary opportunity to increase its footprint and to cement its position as the global hub for specialist insurance and reinsurance.”

She will be responsible for maintaining the modernisation drive initiated by Ward who has introduced new technology and an expansion of Lloyd’s presence in Asia and Latin America.

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