Lloyd’s of London is launching an independent investigation after AIG decided to pull its support for John Neal as the next chair. This decision came following allegations about a workplace relationship during Neal’s time at Lloyd’s. The news broke after AIG dropped Neal’s candidacy upon discovering the issue. In response, Lloyd’s has hired an outside law firm to look into the matter thoroughly.
A spokesperson from Lloyd’s stressed that the investigation will be carried out independently and that the market is fully committed to being transparent throughout the process. Updates on the progress will be shared as the investigation moves forward.
The Lloyd’s Market Association (LMA) welcomed Lloyd’s move. Their CEO, Sheila Cameron, said the association supports the investigation and hopes the findings will be made public along with any actions taken. Cameron noted the recent push for behavioral change and openness under the new leadership at Lloyd’s. She emphasized that most people in the market have strong values and behaviors and expressed concern about the damage these allegations could cause if left unchecked.
Cameron also pointed out the improvements made since a 2019 Bloomberg report that shed light on workplace culture problems in the insurance market. She said the industry has come a long way but stressed the importance of staying committed to cultural change, so the actions of a few do not harm the reputation of many.
In past years, Lloyd’s faced criticism over workplace culture and governance, especially following that Bloomberg investigation. It revealed issues like misconduct, harassment, and discrimination. That led Lloyd’s to review its own practices and introduce reforms such as a new code of conduct, mandatory training, and confidential ways for employees to report problems.
Since then, Lloyd’s has continued working toward greater transparency, accountability, and inclusivity. The latest investigation shows the ongoing attention on maintaining high professional standards at every level of the market.
As this new inquiry unfolds, Lloyd’s aims to keep its market and the public informed, reinforcing its promise to hold everyone to those high standards.