Lloyd’s of London chief executive officer, Dame Inga Beale, will step down from the organization in 2019 after five years at the helm of the global insurance and reinsurance market.

She will leave Lloyd’s as a celebrated industry icon, having strengthened the market’s reputation as one of the most respected and trusted insurance brands in the world.

“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,” Beale commented. “Leading Lloyd’s is an honour and I’m 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’s well placed for the next 330 years.”

Beale joined Lloyd’s in January 2014. In line with industry transformation, she encouraged significant cultural change within the Corporation, as well as the adoption of new technology that has boosted the market’s capabilities.

Meanwhile, the Inclusion@Lloyd’s initiative, which Beale founded in 2013 and is celebrated via the annual Dive In festival, has embedded diversity and inclusion as a business imperative across the global insurance sector.

Bruce Carnegie-Brown, chairman at Lloyd’s, added: “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. Her boldness and persistence have generated the momentum required to bring about real change. I have very much enjoyed working with Inga, and I’m grateful for the support she has given me in my first year as Chairman.”

Beale’s exact leaving date will be confirmed in due course.