Operations/tech

CEO John Neal and CFO Burkhard Keese retained their salary levels from 2021 during 2022, though their performance bonuses increased significantly, as Lloyd’s made one-off payments to staff to reflect cost-of-living pressures.

The Canadian pension fund will retain 9.4% of the carrier’s voting shares.

Lloyd’s has confirmed a combined ratio of 91.9% in its full-year results for 2022, following preliminary numbers that also showed an improvement in the attritional loss ratio to 48.4%.

Ground floor boxes are set to be reallocated based on recent footfall.

Analysts find carriers have few investments in bank debt after Credit Suisse rescue.

The French carrier is exposed to the troubled bank via various bonds.

With chairman Bruce Carnegie-Brown’s third term expiring in June 2025, the organisation needs to start laying the ground for broader changes.

Pay for NEDs has increased by 70% since 2018 due to inflation and more contracted days, according to research.

In the Spring Budget, chancellor Jeremy Hunt said he would also look to help the AI sector prosper in the next decade.

Market transformation director Bob James has been given a broader remit as COO at Lloyd’s, while deputy CFO Alex Cliff has joined the executive committee.

The collapse of Silicon Valley Bank is creating investor fear across the global financial services sector. 

CEO Adrian Cox and CFO Sally Lake are set to lose more than £100k each in long-term share awards after the accounting error.