Beale, who was appointed chief executive of Lloyd's of London in January 2014 and is a vocal LGBT rights campaigner, was awarded her damehood for services to the economy.
"Lloyd’s represents so much of what is good about British business and the insurance sector in particular," she said today.
"This honour is a reflection of the work and commitment of everyone who works within the Lloyd´s market - enabling others to take risks that enable society to progress.
I am also incredibly proud of the work that we are doing to encourage diversity. When I think back to what the workplace was like thirty years ago, we have come a long way on our journey to become a truly modern, global and inclusive sector.”
Ian Powell, the former chairman of PwC and a member of the professional and business services council, has been awarded a knighthood for services to professional service and voluntary service, while former Institute of Directors director general Simon Walker was awarded a CBE.
Among other notable business people to receive honours in this year's list were Mumsnet founder Justine Roberts, who received an OBE, and FirstCapital founder Hazel Moore, for services to entrepreneurship and innovation.
Just under 1,200 people were awarded honours in this year's list, the oldest being a British Empire Medal (BEM) awarded to 94 year-old Poppy volunteer Janet Gillespie, while the youngest was given to 17 year-old army cadet Jeremiah Emmanuel, who founded social justice charity One Big Community.