Lloyd’s of London’s first female CEO Inga Beale to step down

Departing insurance chief topped list of world's most inspiring LGBT business leaders in 2015

Ms Beale joined the London market in 2014 after heading up Canopius (REUTERS)

Lloyd’s of London chief executive Inga Beale will step down next year, the insurance market has confirmed.

Ms Beale became the iconic London market’s first ever female CEO when she joined in 2014, following a stint as head of Canopius.

She also came top of a list of inspiring LGBT chief executives compiled in 2015. At the time, Ms Beale, who is bisexual, said: “I am proud of the commitment of Lloyd’s and the London insurance market to celebrate diversity and ensure we are an attractive, globally relevant and inclusive sector.”

In a London Stock Exchange statement announcing her departure, Lloyd’s said that Ms Beale’s “commitment to transformation across the market, and within the corporation, has led to significant cultural change and the adoption of new technology that has accelerated the market's modernisation and digitalisation”.

The group noted that she had founded the Inclusion@Lloyd’s initiative, aimed at embedding diversity and inclusion as a priority for businesses in the insurance sector.

Lloyd’s said Ms Beale left the market “with a strengthened reputation as one of the most respected and trusted insurance brands in the world, with a strong and experienced leadership team focused on delivering Lloyd's strategic priorities”.

Ms Beale said: "The decision to leave has been a tough one and when the time comes I will miss the energy, innovative spirit and expertise that I come across every working day. “Leading Lloyd's is an honour and I am proud to have played a part in ensuring that it remains relevant and fit for purpose for the future. The world trusts Lloyd's to be there when it matters the most and I believe it is well placed for the next 330 years."

Lloyd’s chairman Bruce Carnegie-Brown said the departing CEO had helped to make the market more modern, efficient and inclusive during her five years at the helm.

“Her boldness and persistence have generated the momentum required to bring about real change. I have very much enjoyed working with Inga, and I am grateful for the support she has given me in my first year as chairman,” he added.