Richard Ward, the chief executive officer of Lloyd's of London, has announced that he will be standing down by the end of the year (release). The insurance market is looking for a replacement.
It has been a huge privilege to lead this great institution, and I am very proud of what has been achieved in my time as Chief Executive. 325 years after its birth, Lloyd's continues to evolve, adapt and thrive and has maintained its position at the centre of the insurance world.
This has not been an easy decision to make but, as Lloyd's longest-serving CEO, I believe it is now right to hand over the reins to someone else to take Lloyd's into its next chapter. I'd like to take this opportunity to thank my management team, Lloyd's staff and the entire market for their support throughout my time at the helm.