John Neal, chief executive officer of Lloyd’s of London, is set to leave the historic insurance market place for a new role overseeing Aon Plc’s climate solutions and reinsurance businesses.

Lloyd’s of London chief executive John Neal will leave the world’s oldest insurance market this year to take a new job leading the reinsurance and climate divisions at Aon, one of the industry’s biggest brokers.

Lloyd’s CEO John Neal will step down later this year and move to Aon, where he will take up the dual role of CEO of global reinsurance and global chair of climate, Insurance Insider can reveal.

Aon has announced John Neal as its new global chairman of climate solutions and global CEO of reinsurance, effective following the conclusion of his notice period. Neal will join Aon from Lloyd’s, where he has served as CEO since October 2018, and prior to joining Lloyd’s, served as group chief executive of QBE.

Lloyd’s of London chief executive officer John Neal is set to leave his position this year to join Aon. Neal was in the leadership position at Lloyd’s for over six years, having joined from QBE, where he was the group CEO for over five years.

Lloyd's of London CEO John Neal will leave in 2025 to join insurance broker Aon, the commercial insurance market said on Wednesday, as it faces pressure to speed up automation and improve conduct. Neal will become global CEO of Aon's reinsurance business and global chairman of climate solutions,