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Bruce Carnegie-Brown has been appointed as the new chair of Lloyd’s, the London-based insurance market. He will take over from current chair John Nelson in June.

Mr Carnegie-Brown, who is chair of Moneysupermarket, has a long history in the insurance business. His career includes stints at Aon, Catlin, Marsh & McLennan and JLT.

His appointment at Lloyd’s follows a long and often controversial search. For much of the past year Mr Nelson, a banker by background, has been campaigning vocally on the Brexit issue. Many in the market wanted his replacement to be a market insider who would focus on internal matters, such as reforming the way the market works.

Mr Carnegie-Brown said:

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.

Lloyd’s chief executive, Inga Beale said:

I am looking forward to working with Bruce. His wide ranging experience across insurance, banking and with Moneysupermarket Group will offer Lloyd’s a unique perspective on how we conduct our business and succeed in today’s marketplace. 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.

Copyright The Financial Times Limited 2017. All rights reserved.
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