Lloyd’s of London has initiated an independent investigation after AIG withdrew its support for John Neal’s appointment as the next chair, following allegations of a workplace relationship during his tenure. AIG’s decision to drop Neal’s candidacy sparked immediate concern across the insurance marketplace.
In response, Lloyd’s appointed an external law firm to conduct a thorough, independent investigation. A spokesperson for Lloyd’s confirmed, “The market remains committed to full transparency, and the investigation will be handled entirely independently.”
The Lloyd’s Market Association (LMA) welcomed the move, stressing the importance of cultural standards and transparency. CEO Sheila Cameron said, “We welcome Lloyd’s announcement about this investigation, supported by a law firm. In the spirit of transparency, we look forward to the public disclosure of findings and concrete actions based on them.”
She added, “Under the new Lloyd’s leadership, there is a refreshing commitment to behavioural change and openness. We urge Lloyd’s to accelerate this process. The vast majority of market participants exhibit exemplary values and behaviours, and they will be as appalled as we are at the possibility of the market’s reputation being tarnished by a small minority of leaders previously at the top.”
This follows significant cultural reforms since the 2019 Bloomberg report, which exposed widespread misconduct, harassment, and discrimination within the London insurance market. Cameron emphasised that these events underscore the need for reaffirming market-wide commitments to ethical behaviour.
Lloyd’s confirmed that further updates will be provided as the investigation progresses, highlighting the ongoing focus on maintaining the market’s integrity and professional culture.