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Leaders with Francine Lacqua

In the City: Lloyd’s CEO Explains Why Insurance ‘Matters’ Again

Leaders with Francine Lacqua

Bloomberg

Management, Business, Careers, Entrepreneurship

4.664 Ratings

🗓️ 9 January 2025

⏱️ 26 minutes

🧾️ Download transcript

Summary

Established in 1689, Lloyd’s of London is a marketplace housing different insurers that sell policies in the UK and around the world. Lloyd’s received more than £50 billion worth of premiums in 2024 alone.

All of this is overseen by Chief Executive Officer John Neal, who’s been in the insurance industry for more than four decades. In this episode of In the City, Neal sits down with hosts Francine Lacqua, David Merritt and Allegra Stratton to discuss the difficulties of using artificial intelligence in the insurance industry, how climate change is impacting premiums and the way in which governments can use insurance policies to protect their economies. 

See omnystudio.com/listener for privacy information.

Transcript

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1:08.0

What's the coolest thing you've ever injured? I remember a guy turning up once and a blind man was trying to break the land speed record in a car.

1:16.9

And you're thinking, right. And he was doing it on mapland sands. So actually, it's the biggest sand stretch you could imagine and about as safe and has managed.

1:25.7

So actually the risk is awesome. Right.

1:28.8

But it sounds nuts.

1:30.7

You've got a blind man trying to break the land speed record.

1:33.9

And then when you hear the story, you're thinking, this is absolutely fine.

1:35.6

So you know, he insured it.

1:39.3

He needed insurance for roughly an hour and was prepared.

1:41.7

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