Lloyd’s of London has officially appointed industry figure Bruce Carnegie-Brown as its next chairman, replacing John Nelson who is set to retire this year.

 

Carnegie-Brown, currently the group chairman of Moneysupermarket.com and vice chairman of Banco Santander S.A., will take up the position in June. The Lloyd’s Franchise Board unanimously approved his appointment.

 

“I’m delighted to be joining Lloyd’s of London and to have the chance to work with a very talented group of market professionals who all share a passion for enhancing London’s position as the preeminent global centre for structuring and placing complex insurance risk,” Carnegie-Brown said.

Want the latest insurance industry news first? Sign up for our completely free newsletter service now.

 

Nelson, who will formally retire during Lloyd’s annual general meeting in May, called Carnegie-Brown’s appointment “excellent.” The departing leader said his successor “brings a deep knowledge and understanding of the broker and underwriting market.”

 

“Bruce is arriving at an exciting time for Lloyd’s with opportunities and challenges ahead of us,” Nelson said.

 

Carnegie-Brown has more than 35 years of experience across the financial services industry, serving as Marsh Europe chief executive from 2003 to 2006, Aon UK non-executive chairman from 2012 to 2015 and senior independent non-executive director of Catlin Group from 2010 to 2014. He will be stepping down from his current role as non-executive director of JLT Group.

 

Lloyd’s CEO Inga Beale said Carnegie-Brown’s wealth of industry experience “will offer Lloyd’s a unique perspective on how we conduct our business and succeed in today’s marketplace.”

 

“I am looking forward to working with Bruce,” Beale said. “As we take forward our plans to modernise the London market and ensure it remains the hub of specialist insurance and reinsurance, Bruce’s input will be invaluable.”