By Marcus Leach

The Council of Lloyd’s, the world’s leading insurance market, has today (Monday 18th April) announced that John Nelson is to be appointed the next Chairman.

Mr Nelson will take up the position in October of this year when he succeeds current Chairman Lord Levene. Lord Levene will retire after nine years as Lloyd’s Chairman. He is Lloyd’s longest serving Chairman for 125 years.

Mr Nelson’s distinguished business career has principally spanned the financial services, real estate and retail sectors. He is currently Chairman of Hammerson and Deputy Chairman of Kingfisher.

Welcoming his successor, Lord Levene said: ‘I am very pleased that the Council of Lloyd’s has chosen John who is an experienced businessman with a successful record. He is an excellent choice.’

John Nelson said: ‘It is a great honour for me to accept this role and I look forward to playing my part in steering the world’s leading insurance market through the next stage of its evolution.

‘Recent events in Japan, New Zealand and Australia remind us of the vital role Lloyd’s and other insurers play in helping communities and businesses rebuild after disaster. Lloyd’s is in robust shape both to meet these challenges and to develop its role as the foremost provider of specialist insurance to the world’s most prominent companies.’

Lloyd’s Chief Executive Dr Richard Ward said: ‘I’m delighted that John will be joining us as Chairman.

‘Lloyd’s is in strong financial shape and can face the future with confidence. John’s business experience makes him the perfect candidate to take on this role and help Lloyd’s build on its position as the preeminent market for specialist insurance.’