Lloyd’s of London boss hospitalised and CFO temporarily takes the helm
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Lloyd’s of London boss John Neal has been hospitalised following a bike accident over the weekend.
Neal is expected to make a full recovery, Lloyd’s said in a statement today, after the accident which occurred on Saturday.
The commercial insurance market will be helmed by chief operating officer and chief financial officer Burkhard Keese and chief of markets Patrick Tiernan.
Burkhard previously spent 14 years at the Allianz Group, holding the position as chief financial officer for the group’s German arm, as well as executive vice president and chief operating officer of Allianz’s global finance function.
While Tiernan, who stepped into the role in May last year, was formerly chief financial officer of City insurance giant Aviva.
The incident follows the return to profit for the marketplace, as it secured a £2.3bn profit in 2021, swinging from the £0.9bn loss it swallowed in 2020, Lloyd’s confirmed in its financial results published on Thursday.
“In a world buffeted by increasingly complex and connected risks – from the pandemic to a geopolitical conflict – the Lloyd’s market is standing by its customers and supporting their recovery when things go wrong,” Neal said at the time.