Insurance broker Aon plc announced the appointment of John Neal as global CEO of Reinsurance and chairman of Climate Solutions, effective following the conclusion of Neal’s notice period at Lloyd’s of London where he has served as CEO since October 2018.

Aon said Neal will help lead its efforts to address the growing and complex risks associated with climate change, while continuing to build on the successes seen by the firm’s reinsurance team.

Neal will be based in London, reporting to Andy Marcell, CEO of Risk Capital for Aon, and will serve as a member of the firm’s Risk Capital leadership team.

In September, Lloyd’s announced that its Chairman Bruce Carnegie-Brown also will be stepping down, to be succeeded by Sir Charles Roxburgh on May 1, 2025.

“During 2025, John will continue to support both the planned succession of a new chair of the Council of Lloyd’s and the executive leadership transition,” said Carnegie-Brown, in a statement from Lloyd’s.

(Editor’s note: CEO of Aon’s Reinsurance Solutions, Andy Marcell, was appointed CEO of Aon’s Risk Capital unit in 2023, which spanned Reinsurance Solutions and Commercial Risk Solutions, the latter being led by Commercial Risk Solutions CEO Joe Peiser. Marcell has since continued in the role of CEO of Reinsurance Solutions and will do so until Neal joins the firm.)

Prior to joining Lloyd’s, Neal served as Group CEO of QBE, a global insurance and reinsurance business, where he was responsible for running a $14 billion gross written premium (GWP) business with over 14,000 employees in 37 countries. Before becoming CEO, he held a number of leadership positions at QBE, including chief underwriting officer and chief operations officer of the firm’s European operations.

Previously, he led a management buyout of Ensign to establish a dedicated Lloyd’s Managing Agency. As CEO of Ensign, he grew GWP to $300 million to create the leading specialist commercial motor underwriter in the UK. He also worked at Bankside Managing Agency, where he was the youngest active underwriter at Lloyd’s, and started his career at the Crowe Underwriting Agency.

Lloyd’s issued the following comment: “During Neal’s tenure, he has led a reset in the strategic direction of the world’s largest insurance marketplace, turning the market around to consistently deliver industry-leading performance, placing it in the strongest financial position in recent memory, with sustainable growth and record profits. Neal has also set up Lloyd’s strategic agenda to deliver digital, operational and cultural change for the long-term future of the market.”

In addition to spearheading the market’s return to strong financial performance and upgraded financial strength ratings, Lloyd’s said that Neal “guided Lloyd’s through a number of complex challenges including Brexit, rising interest rates and inflation, a global pandemic and geopolitical conflict.” In September, Lloyd’s reported its best first half underwriting profit since 2007.

Another complex challenge for Neal arose in 2019 after news reports of pervasive sexual harassment. He and the Lloyd’s leadership team pushed forward a series of market conduct reforms to address reports of pervasive sexual harassment in the market as well as to create a safe and inclusive working environment, while cracking down on the market’s drinking culture. The 2019 plan included possible lifetime bans for perpetrators of sexual harassment.

More recently, Lloyd’s of London members set up a working party to examine the market’s plans to overhaul conduct rules, following criticism that these proposals would give Lloyd’s regulators too much power.

“Since appointing John as CEO in 2018, he has made a tremendous contribution to Lloyd’s. Today we see excellent performance at Lloyd’s, real strategic intent and execution, and an industry-leading voice that is valued by governments, regulators and customers around the worlds,” according to Carnegie-Brown.

“We wish John well in his new role at Aon. We thank him for his service to the market over the last six years, when he helped restore confidence in the Lloyd’s marketplace leading to record underwriting results from managing agents,” according to Sheila Cameron, CEO of the Lloyd’s Market Association, in a statement.

“We also pay credit to John’s willingness to tackle problems that had been long ignored, such as the market’s back-office infrastructure and the market’s cultural agenda. The Lloyd’s Market Association will continue to help lead the market on these points during this transitionary period. We look forward to working closely with Bruce Carnegie-Brown and Sir Charles Roxburgh on the selection process for his successor,” Cameron said.

Lloyd’s CEO, John Neal, said: “I will be forever grateful to my colleagues and many others across the Lloyd’s market for the opportunity to put in place a framework that has delivered strong and sustainable financial performance and positions Lloyd’s for future success. At Aon, I’m looking forward to supporting colleagues as they look to serve clients’ reinsurance needs and deliver smart insurance solutions that help address some of the world’s most pressing challenges, especially with regard to the climate transition.”

This article was previously published by Insurance Journal. Reporter L.S. Howard is the International Editor of Insurance Journal.