Inga Beale named Lloyd's of London CEO; first female to lead market
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Lloyd's of London has appointed insurance and reinsurance industry veteran Inga Beale as the first female CEO in Lloyd's more than 300-year history.
Lloyd's said Monday that Ms. Beale will succeed Richard Ward, who announced his departure from Lloyd's during the summer and was appointed last week as chairman of Amsterdam-based Brit Insurance Holdings B.V.
Ms. Beale, who has more than 30 years' experience in the insurance and reinsurance industry, previously was group chief executive of Guernsey-based Canopius Group Ltd., a managing agency at Lloyd's.
The first female CEO of the market formed in 1688 also held several roles previously at Zurich Insurance Group Ltd., including global chief underwriting officer.
Before Zurich, she was group CEO at Zug, Switzerland-based reinsurer Converium Ltd., which SCOR S.E. purchased in 2007.
Ms. Beale takes the helm at Lloyd's in January. Ms. Beale succeeds Richard Ward as Lloyd's CEO. Last week, Mr. Ward was named chairman of Brit Insurance Holdings B.V. and of Brit Syndicates Ltd., effective Feb. 1, 2014.
John Nelson, chairman of Lloyd's, said he is delighted about the appointment of Ms. Beale.
“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,” Mr. Nelson said in a statement.
“Lloyd's is already an international leader, but this unique market has an extraordinary opportunity to increase its footprint and cement its position as the global hub for specialist insurance and reinsurance,” Ms. Beale said in the statement.
In a separate statement, Michael Watson, executive chairman of Canopius, congratulated Ms. Beale on her appointment and thanked her for her contributions to Canopius, where he will assume the additional role of group chief executive.
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