People in the News
Inga Beale to leave Lloyd’s
Inga Beale is to leave Lloyd’s in 2019 after five years as chief executive officer, the global insurance and reinsurance market has confirmed.
Lloyd’s did not give a precise leaving date saying it would be announced in “due course” nor name a replacement..
Ms Beale joined Lloyd’s in January 2014 moving from group chief executive of Canopius as successor to Richard Ward.
Lloyd’s noted that since then Ms Beale had led significant cultural change and the adoption of new technology which it stated had accelerated the market’s modernisation and digitalisation.
It listed that she founded the Inclusion@Lloyd’s initiative in 2013. It is celebrated via the annual Dive In festival and has sought to embed diversity and inclusion as a business imperative across the global insurance sector.
Honour
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 which 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.”
Chubb replaces executive vice president of global energy
Property/casualty insurer Chubb has appointed Matthew Hardy as executive vice president of global energy, Chubb Overseas General. He replaces Roger Giddings who will leave Chubb later in the year.
Mr Hardy will report to Timothy O’Donnell, the newly-appointed division president of commercial property & casualty, Chubb Overseas General.
Mr Hardy was previously product head – energy for Chubb Global Markets and head of international energy for Chubb Overseas General, where he led Chubb’s efforts to develop and deliver innovative solutions for its energy clients’ complex international risk management needs. He joined the business in 1996 as an assistant underwriter and has since progressed to head of onshore energy before becoming chief underwriting officer, Chubb Overseas General Energy and later head of the international energy division.
In a further change to the team, Riaz Thanduparakkal has been promoted to the role of product head Chubb Global Markets Energy. Thanduparakkal will report to Matthew Shaw, division president for Chubb Global Markets and Hardy.
Mr Thanduparakkal was previously energy senior underwriter. He has 16 years of experience in the industry and began his career as a client manager at Oman Insurance Company in Dubai. He moved to London in 2006, where he worked for a broker as a client manager in the energy practice, before joining Chubb (then ACE) in 2011 as an underwriter in the upstream energy team.