Lloyd’s Chairman awarded 2009 Insurance Leader of the Year

Lloyd’s Chairman, Lord Levene, has been named the 2009 Insurance Leader of the Year by the St. John’s University School of Risk Management at its 15th annual award dinner in New York last night.

Lord Levene was presented with the award by which honoured his global perspective and willingness to speak publicly, and bravely, about industry issues and topics. The award also recognised the re-emergence of Lloyd’s to a position of strength after difficult times and the example the marketplace provides for the wider financial services industry.

On accepting the award, Lord Levene described the challenges facing the industry today, saying:

“I have spent much of last year reminding regulators and the media that insurance did not create this crisis, and that a one size fits all approach to financial services regulation is neither relevant, nor fair.

“We must demonstrate to regulators that we are capable of the highest levels of risk management. The story of Lloyd’s should reassure governments and regulators that root and branch reform can come from within.”

Lord Levene became Chairman of the Council of Lloyd’s in 2002. He is the first Chairman of Lloyd’s Franchise Board, as well as the first Lloyd’s Chairman from outside the market.

Under his leadership Lloyd’s has expanded and grown, securing licences in China and Brazil, and recorded three of the highest profit years in its history.

He has also played a significant role in bringing Lloyd’s in to line with its competitors through the Lloyd’s Legislative Reform Order, and has been a driving force in improving Lloyd’s brand and reputation around the world.

Lord Levene has enjoyed a diverse career working in business, Government and banking prior to joining Lloyd’s. He is an Alderman of the City of London and served as Sheriff from 1995-96 and Lord Mayor of London for the year 1998-99.

Previous Insurance Leaders of the Year have included Greg Case, President and CEO of Aon, James Schiro, CEO of Zurich Financial Services, and Joe Plumeri, Chairman and CEO of Willis Group Holdings Ltd.