Lloyd’s of London said on 21 November 2018 that Chief Operating Officer Shirine Khoury-Haq is stepping down, adding to a year of senior turnover at the insurance market.
The announcement came as Lloyd’s continued to reshape its top team. Former QBE Insurance Group boss John Neal was appointed chief executive in September to replace Inga Beale, the market’s first female CEO, while the chief financial officer said in May that he would also leave.
Khoury-Haq had spent almost five years at Lloyd’s and was involved in efforts to digitize the London reinsurance market. Lloyd’s said her departure date would be confirmed later.
The changes followed a difficult 2017, when Lloyd’s posted a 2 billion pound loss, equal to about $2.56 billion, after a series of natural disasters hit the market.
Another immediate task for the incoming management is the launch of a Brussels subsidiary so Lloyd’s can keep serving customers in the European Economic Area after Britain leaves the European Union.
Lloyd’s, which traces its origins to Edward Lloyd’s coffee house in 1688, did not say why Khoury-Haq was leaving. She did not immediately respond to a LinkedIn message seeking comment.
Reporting by Noor Zainab Hussain and Tanishaa Nadkar in Bengaluru.
