Business

Lloyd's of London chief executive Inga Beale to step down

Dame Inga Beale, chief executive of Lloyds of London Image copyright Getty Images

Dame Inga Beale, one of the most senior women in the UK's financial sector, is stepping down as chief executive of Lloyd's of London.

Dame Inga has led the insurance and reinsurance market since 2014.

She will leave her post next year and Lloyd's said that it had begun a search for her successor.

It is the second senior exit from Lloyd's in as many months. In May, finance chief John Parry announced he was leaving after 17 years.

Dame Inga is the only women to have led Lloyds during its 330-year history and during her tenure has introduced a number of measures aimed at modernising the market, including a ban on boozy lunches.

Earlier this year, Lloyd's reported its first loss in six years following a series of natural disasters.

Dame Inga described it as "the costliest year for a decade for natural catastrophes".

Lloyd's chairman Bruce Carnegie-Brown said: "In her five years at Lloyd's, Inga has set in motion a series of changes aimed at modernising the market and making it more efficient and inclusive."

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