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Inga Beale becomes Lloyd 8217 s of London chief executive

Article By: ,  Financial Analyst
December 17, 2013 9:15 AM

Lloyd's of London has confirmed Inga Beale has been named its new chief executive, which is the first time a female has ever held the position at the insurance company.

Ms Beale will take over the position from Richard Ward in January after the current chief executive announced he was stepping down from the role after eight years in charge.

She has three decades of international insurance and reinsurance experience and has most recently been group chief executive of Canopius, while she previously spent four years with Zurich Insurance in roles such as global chief underwriting officer.

Lloyd's of London chairman John Nelson stated that he is "absolutely delighted" to be able to confirm the appointment of Ms Beale as the replacement for Mr Ward.

He said: "She has 30 years' experience in the insurance industry. 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. I very much look forward to working with her."

Future of Lloyd's

Ms Beale added that she is looking forward to both the opportunities and challenges she will face in the new role, explaining she believes Lloyd's has a unique market that has an "extraordinary opportunity to increase its footprint and to cement its position as the global hub for specialist insurance and reinsurance".

She said: "I'm looking forward to working with the Lloyd's team and the wider market to deliver a strategy for profitable and sustainable growth alongside Lloyd's robust market oversight."

The news of Ms Beale's appointment as the new chief executive of Lloyd's of London comes after the company won Best International Campaign for its Underinsurance Report at the 2013 CorpComms Award and also Best Use of Video and Designer of the Year categories at an awards ceremony held by the Content Marketing Association.

The prizes are in addition to Lloyd's having scooped Twitter Profile of the Year at the European Digital Communication Awards in Berlin and a Lord Mayor's Dragon award for Lloyd's Community Programme in October.

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