This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/2018/jun/29/lloyds-of-londons-first-female-ceo-inga-beale-to-step-down
The article has changed 3 times. There is an RSS feed of changes available.
Version 1 | Version 2 |
---|---|
Lloyd's of London's first female CEO Inga Beale to step down | Lloyd's of London's first female CEO Inga Beale to step down |
(17 days later) | |
Inga Beale, the first female chief executive of Lloyd’s of London, is to step down as the head of the insurance market next year. | Inga Beale, the first female chief executive of Lloyd’s of London, is to step down as the head of the insurance market next year. |
Her departure comes amid concerns that despite a modernisation drive, it is losing ground to rival centres such as Singapore and failing to stem losses. Last year, Lloyd’s slumped to a £2bn loss as the market was hit by a series of major hurricanes and earthquakes. | Her departure comes amid concerns that despite a modernisation drive, it is losing ground to rival centres such as Singapore and failing to stem losses. Last year, Lloyd’s slumped to a £2bn loss as the market was hit by a series of major hurricanes and earthquakes. |
UK economic growth revised higher in first quarter | UK economic growth revised higher in first quarter |
Beale was appointed chief executive of the 332-year-old insurance market in January 2014, becoming the first woman to hold the role and also one of the UK’s few openly bisexual senior business leaders. | Beale was appointed chief executive of the 332-year-old insurance market in January 2014, becoming the first woman to hold the role and also one of the UK’s few openly bisexual senior business leaders. |
In 2015, she topped the power list of the world’s leading 100 LGBT executives. Beale launched the Inclusion@Lloyd’s diversity and inclusion initiative, which is celebrated via the annual Dive In festival. | In 2015, she topped the power list of the world’s leading 100 LGBT executives. Beale launched the Inclusion@Lloyd’s diversity and inclusion initiative, which is celebrated via the annual Dive In festival. |
In a statement, she said it had been an honour to run Lloyd’s. “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,” she said. | In a statement, she said it had been an honour to run Lloyd’s. “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,” she said. |
The exact date of Beale’s departure has not been announced but the search for her successor is already under way. | The exact date of Beale’s departure has not been announced but the search for her successor is already under way. |
Her appointment to the job came 40 years after the first woman entered the Lloyd’s dealing floor as a broker. As chief executive, she led a push for a more diverse workforce in the market, which is made up of more than 80 insurance syndicates. | Her appointment to the job came 40 years after the first woman entered the Lloyd’s dealing floor as a broker. As chief executive, she led a push for a more diverse workforce in the market, which is made up of more than 80 insurance syndicates. |
Beale has also encouraged a move to electronic processing, with plans to ditch most paper trades by the end of next year. Insurance staff traditionally carry their documentation around the 14-storey Lloyd’s building in the City of London in briefcases or even suitcases. | Beale has also encouraged a move to electronic processing, with plans to ditch most paper trades by the end of next year. Insurance staff traditionally carry their documentation around the 14-storey Lloyd’s building in the City of London in briefcases or even suitcases. |
Lloyd’s is reviewing costs after a series of natural catastrophes resulted in the £2bn loss last year and is asking syndicates to provide action plans for their least profitable areas of business. A report last year showed the London insurance and reinsurance markets were losing out to other centres such as Bermuda and Singapore. | Lloyd’s is reviewing costs after a series of natural catastrophes resulted in the £2bn loss last year and is asking syndicates to provide action plans for their least profitable areas of business. A report last year showed the London insurance and reinsurance markets were losing out to other centres such as Bermuda and Singapore. |
Before leading Lloyd’s, Beale had a number of senior roles in the insurance industry, despite a dispiriting start to her career. | Before leading Lloyd’s, Beale had a number of senior roles in the insurance industry, despite a dispiriting start to her career. |
After beginning in the City in the 1980s, she quit after less than 10 years, frustrated by an environment that circulated around drinking. | After beginning in the City in the 1980s, she quit after less than 10 years, frustrated by an environment that circulated around drinking. |
She returned after a year out in Australia, where she worked as receptionist for the BBC at an office run by a woman, a role model of the kind absent in London and it gave her the courage to return to her career in financial services. | She returned after a year out in Australia, where she worked as receptionist for the BBC at an office run by a woman, a role model of the kind absent in London and it gave her the courage to return to her career in financial services. |
Lloyd's | Lloyd's |
Insurance industry | Insurance industry |
London | London |
news | news |
Share on Facebook | Share on Facebook |
Share on Twitter | Share on Twitter |
Share via Email | Share via Email |
Share on LinkedIn | Share on LinkedIn |
Share on Pinterest | Share on Pinterest |
Share on WhatsApp | Share on WhatsApp |
Share on Messenger | Share on Messenger |
Reuse this content | Reuse this content |