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(Reuters) — Lloyd’s of London said its chief operating officer, Shirine Khoury-Haq, is stepping down, the third big change this year at the insurance market.
Ms. Khoury-Haq, who has been at Lloyd’s for almost five years, worked to digitize the London reinsurance market.
Lloyd’s appointed former QBE Insurance Group Ltd. boss John Neal as chief executive officer in September to replace its first female CEO, Inga Beale, and in May the insurance market’s CFO said he would leave.
The departures follow a tough 2017 for Lloyd’s, when it racked up a £2 billion ($2.56 billion) loss after a series of natural disasters.
An immediate priority for any new management will be the launch of a Brussels subsidiary to enable Lloyd’s to continue serving its customers in the European Economic Area after Britain leaves the European Union.
Lloyd’s, the venerable insurance market that began life in Edward Lloyd’s coffee house in 1688, said Mr. Khoury-Haq’s departure date would be confirmed in due course.
Ms. Khoury-Haq did not immediately reply to a LinkedIn message from Reuters seeking comment on her resignation.
(Reuters) — Most business on the Lloyd’s of London insurance market will be negotiated electronically by the end of next year, Chief Executive Inga Beale said Monday.