Lloyd’s of London said its former chief executive John Neal breached compliance rules by failing to disclose a close personal relationship with an employee who was promoted during his tenure. The relationship was described as sufficiently close to create a perceived conflict of interest.

After a probe, Lloyd’s found no conclusive evidence that John Neal and the former executive had engaged in a romantic relationship or that the appointment process was improper, but neither party disclosed the relationship. The market cited the conduct as detrimental to its interests.

The centuries‑old insurance market, where insurers and brokers trade cover for cyber attacks, terrorism and other risks, has long faced complaints about its workplace culture, including sexual harassment and heavy drinking. John Neal departed in May 2025 after announcing plans to join AIG as president.

Following the findings, Lloyd’s hired lawyers to investigate potential governance failings related to John Neal. He has not responded to requests for comment since the concerns were first reported in November. The market continues to scrutinise its oversight practices.