Lloyd’s safeguarding data to avoid conflict of interest ahead of Neal’s Aon move

By Scott Vincent

March 4 - (The Insurer) - Lloyd’s is taking steps to ensure sensitive information related to market participants is appropriately safeguarded while CEO John Neal serves out his notice, according to sources close to the Corporation.

Neal’s planned exit to join Aon as CEO of global reinsurance and global chair of climate solutions was announced in January.

But he is continuing in his Lloyd’s leadership role as he serves out his notice period. Neal is on a one-year rolling contract as Lloyd’s CEO, with the Corporation and Aon negotiating over the timing of his exit.

Neal’s continuation in the role in the interim has caused concerns for some within the market given the potential access it gives him to sensitive data related to deals conducted by Aon’s broking rivals.

However, Lloyd’s chair Bruce Carnegie-Brown, who is also set to exit the Corporation in May, is chairing a conflicts committee which will ensure access to sensitive information related to market participants is appropriately safeguarded, the sources said.

Separately, Neal’s addition to the Aon team was hailed by the broker’s Risk Capital CEO Andy Marcell in an interview published by The Insurer yesterday.

During the interview, Marcell said Aon plans to support Neal in work done around climate change by investing in areas where the broker believes solutions can be effectively delivered.