2014 Power Broker

Responsibility Leaders

Finding the time to fulfill both career and personal obligations can be next to impossible.

That’s why the achievements of this year’s group of Responsibility Leaders is so impressive. As the delta of time available to busy professionals shrinks, these professionals find the space and time to do more. They do more in the area of mentoring young professionals that will make a difference in this industry and in our economy in general.

They do more in the area of education, writing papers, giving lectures, sometimes in the halls of universities, on the vital topics of risk management and insurance. They do more in their communities, coaching young athletes, delivering meals and building homes for those dealt a tougher hand of cards.

Let’s talk about Wells Fargo’s Jamie Pincus, a Power Broker® in the Construction category, who made the time to help deliver prepared meals to 77 families in the Washington, D.C. area. She brought her eldest daughter along on that journey of compassion. All three of her daughters went along for her next project, painting and repairing the home of a needy family.

Let’s talk about Arthur J. Gallagher’s Tim DePriest, who takes money out of his own pocket to aid the nonprofit organizations that depend on his industry knowledge to keep their doors open. DePriest also helped find funding for LA BioMed so it could continue research on such illnesses as cancer and dementia.
Read about these brokers. Think about your own busy schedule, what you do and what you just can’t get around to. Be inspired by these professionals. They are worthy sources of inspiration.

Bringing a Fresh Take on Client Service

Denton Christner, CIC Vice President BayRisk, Alameda, Calif. Category: Gaming/Hospitality

Denton Christner, CIC
Vice President
BayRisk, Alameda, Calif.
Category: Gaming/Hospitality

There may be no better example of the innovation and fresh air the insurance industry craves than the work Denny Christner has done with BayRisk. By insuring hundreds of gourmet food trucks, Christner has not only displayed a sharp eye for new business, but has helped to cover a sector of the economy that speaks to new generations. If insurance is an enabler of commerce, then Christner is an enabler of good taste.

He also breaks the mold by using modern channels of communication with his clients: Facebook, Twitter and Instagram. Promoting and advocating for his always-on-the-go customers via social media speaks to his ability to adapt traditional business models to modern demands. That demonstrates a level of media savvy not typically seen from seasoned brokers.


And Christner is also serving the insurance industry and the economy in other ways. He has served on the Young Brokers & Agents Committee of Independent Insurance Agents and Brokers of California and chaired that committee in 2011. In that leadership position, he hosted events geared to younger agents that encouraged them to discuss their progress and offer mutual support. Christner has also accepted a board position with the IIABCal in 2014.

“I continually engage young professionals and those entering the workforce to consider an insurance profession,” Christner said, calling the field personally rewarding, but often overlooked by young talent.

Goals Beyond Commissions

Tim DePriest, ARM Managing Director Arthur J. Gallagher, Glendale, Calif. Category: Nonprofit

Tim DePriest, ARM
Managing Director
Arthur J. Gallagher, Glendale, Calif.
Category: Nonprofit

Serving nonprofit organizations is more than a job to Tim DePriest. His compassion for the services these often cash-strapped organizations provide has compelled him to take cash out of his own pocket — to the tune of more than $25,000 last year — and donate it to his clients.

In addition, rather than see a children’s residential center shut down because of increasing workers’ compensation costs, DePriest urged the center to go in a different direction. Being a trusted adviser meant more to him than the commissions he could receive as the group’s broker. Instead, he advised them to explore options available only through other brokers, such as other market channels or a self-insured program.

“I was more concerned with their ability to remain open than in retaining them as a client,” DePriest said, noting that his company supported his efforts.

His company also supported another initiative of his — helping to fund LA BioMedical Research so it could continue clinical research on such diseases as cancer and dementia, which have affected family members of staffers. After discussions with Gallagher’s area president and operations director, as well as coordination with LA BioMed’s development staff, DePriest was able to see his company become a corporate partner and agree to a multi-year financial commitment.

DePriest also commits a significant amount of time to staff development, training a junior producer every year and “selling” people on the virtues and benefits of the insurance industry.

Helping Those Less Fortunate

Michael McHugh Senior Vice President Arthur J. Gallagher, Itasca, Ill. Category: Public Sector

Michael McHugh
Senior Vice President
Arthur J. Gallagher, Itasca, Ill.
Category: Public Sector

Michael McHugh gives extensively to those in need. His family sponsors three inner-city Chicago students so that they can receive a Catholic education. He also is involved with his church’s “adopt a needy family” program during the holidays.

“I am fortunate to have a loving family and that is why I feel it is important to reach out and help those that are less fortunate,” McHugh said.

He is also involved with his local church, serving on its finance committee for the past 10 years, and with the church’s fundraising committee and building committee to renovate the parish school and church.


Most recently, he came to the aid of two employees at his golf club who had lost their home in a fire. Over a period of weeks, he used his professional experience to counsel them prior to and during the claims process, reducing the anxiety they experienced during the stressful time.

McHugh is also very active in his organization’s college summer intern program. He interviews potential summer interns in the fall, is involved as they work with the company in the summer, and hires some of the young producers when they graduate.

“I am pleased to say that many of these young producers that began their careers in my business unit have been promoted within Gallagher to leadership roles, including branch managers,” he said.

McHugh is also active in other community programs, including youth baseball and soccer programs.

Helping Young Leaders Achieve

Lorrie McNaught Aon/ Albert G. Ruben, Sherman Oaks, Calif. Category: Entertainment

Lorrie McNaught
Aon/ Albert G. Ruben, Sherman Oaks, Calif.
Category: Entertainment

Having seen to the coverage needs of dolphins, ghost hunters, and gun-toting, bear-hunting moonshiners, Lorrie McNaught has plenty of experience for young brokers to draw upon.

But McNaught is not your average mentor. Last year, she worked to revitalize a small business unit at Aon that was formed to give junior professionals leadership experience. The unit had folded only months after it was formed, for various reasons. But McNaught championed the unit and fought to bring it back, taking on the task of managing that unit, and hiring and re-training its members. She also took ownership of the unit’s disenfranchised accounts, maintaining their business and earning back their confidence until the unit was ready to take on accounts again.

Less than a year later, the unit isn’t merely stabilized, it is achieving success. It has grown by more than 100 accounts through her efforts. “The team is encouraged and inspired,” said McNaught.

In the long run, this accomplishment not only benefits the insureds, but serves to bolster the future of the industry through the development of young professionals.

Within her company and on LinkedIn groups, McNaught offers herself as a mentor to younger professionals. In that role, she has tutored younger brokers on what it takes to succeed in the entertainment sector of the insurance business. McNaught’s goal is to empower young brokers, and to encourage them to embrace the opportunities before them.

Nurturing the Next Generation

Ross Pebley Vice President Marsh, Los Angeles Category: Entertainment

Ross Pebley
Vice President
Marsh, Los Angeles
Category: Entertainment

Ross Pebley is passionate about his career in insurance. So passionate, in fact, that he has made it his mission to share his knowledge with young insurance professionals and to encourage young people — including his own daughters — to explore the rewarding career paths in entertainment insurance and beyond.

Pebley has a unique perspective to share. Having been the head of risk management at both DreamWorks, LLC and DreamWorks Animation SKG, Inc., he has an insider’s understanding of the challenges the industry faces.

Pebley later made the move to Marsh and began serving DreamWorks as a broker instead.


The move to the brokerage side meant that Pebley had to step down as president of the Los Angeles chapter of RIMS after serving for two years. But he happily agreed to continue serving as program chair, and continues to bring dynamic educational programs to the LA chapter for the benefit of its membership.

Pebley has spoken with members of the Gamma Iota Sigma society for risk and insurance management students and also offers himself as a mentor for young colleagues at Marsh, sharing his experiences and insights as well as his love of learning.

“I never stop learning,” said Pebley. “I always enjoy learning from people who work with various mediums in the entertainment industry. No one knows everything, but everyone knows something.”

Investing in Industry Improvement

Joe Picone, CPCU, AIC Chief Claim Officer Willis, Glen Allen, Va.

Joe Picone, CPCU, AIC
Chief Claim Officer
Willis, Glen Allen, Va.
Category: Workers’ Comp

It is often said that the insurance industry is its own worst enemy when it comes to public relations.

Joe Picone is one insurance professional who understands the importance of providing the media with the information it needs to sketch a balanced, useful portrait of the industry.

Picone frequently serves as an information source to this publication and many others, which plays into his desire to improve the industry as a whole. At Willis, he helped to design a robust “Strategic Risk Planning” process that personalizes the workers’ comp claims process for each client. It breaks away from the broker’s “playbook,” but is “yielding millions in savings for our clients,” Picone said.

He is also keenly conscious of the importance of preparing the next wave of talent that is going to impact the industry. Picone personally vets and interviews every candidate the company hires into the claims practice, as well as works on career development programs for new hires. The programs ensure that the skills baby boomers take with them when they retire are passed along to the incoming class, strengthening the practice as a whole. His involvement also shows new candidates “how serious we are about hiring and training the right people not just for Willis, but for our industry,” Picone said. He also recently spoke at a Workers’ Compensation Institute conference on the importance of hiring the right people into a claims organization.

A Family Effort

Jamie Pincus, CRIS Vice President Wells Fargo, Washington, D.C. Category: Construction

Jamie Pincus, CRIS
Vice President
Wells Fargo, Washington, D.C.
Category: Construction

Wells Fargo’s Jamie Pincus is a firm believer that the best insurance policy is the one that you might never need.

“In the construction industry, it’s not just about the insurance placement, it’s about the people working on the construction site, providing a safe environment and seeing something develop that others will benefit from and there must be a business understanding of what our client is looking to accomplish,” Pincus said.

Pincus is a big believer in voice-to-voice communication with clients.

“Email is efficient but a lot gets lost in electronic delivery,” she said.

Pincus serves as a mentor to young professionals, not just handing down instructions but giving them the tools to do their jobs better.


“I lead by example. There is nothing I like better than digging into a policy to learn about what coverage is provided and researching a client’s exposure to have a complete understanding about their risk,” she said.

“I’ll do this as a mentor on a daily basis to demonstrate good service.”

In her community, Pincus involves her family in her efforts to help the less fortunate. Her eldest daughter recently joined her and other Wells Fargo team members to deliver groceries and prepared meals to 77 families in the Washington, D.C. area.

She brought all three of her daughters along for a more recent project, painting and repairing the house of a family in need.

Volunteering His Time

Tony Rey, CPCU, CIC Senior Vice President Marsh, Detroit Category: Education

Tony Rey, CPCU, CIC
Senior Vice President
Marsh, Detroit
Category: Education

Tony Rey is enriching the lives of young people in his personal and professional life. As an education broker, he was challenged to help give college students better access to professional training by designing coverage for university internship programs. Students and faculty members were being stymied by the lack of insurance coverage for professional liability as they competed for work outside of the university. He was able to construct coverage and negotiate with the excess carrier to include the program at no additional costs for the members.

In addition, Rey gives freely of his time to a number of nonprofit organizations, including personal participation and involvement in fundraising activities. Among his activities are donating blood to the Red Cross, aiding the Rotary Club as it donates to many community causes, and involvement in the United Way. He also organized a day of volunteering at the Children’s Hospital in Detroit, and coaches Little League and Babe Ruth baseball.

Rey also aids the industry’s future by mentoring new employees and participating in local chapters of the Chartered Property Casualty Underwriter society. In addition, Rey works to increase morale among co-workers by involvement in his organization’s Employee Committee.

A True Team Leader

Matthew Walsh Managing Director Aon, Chicago Category: Construction

Matthew Walsh
Managing Director
Aon, Chicago
Category: Construction

The global upturn in commercial construction is, on the face of it, good news.

But many of our risk management sources caution that there is great risk in this upturn. Geographic challenges in catastrophe-prone areas and rapid changes in laws governing construction risk are just a few of these factors. Aon’s Matthew Walsh has built a unique analytics and brokerage platform tailored to address the risks of stakeholders in complex, global undertakings.

Walsh’s base in his 25 years in the business is Chicago, which as a venue ranks as either first or second in construction liability risk from year to year. He feels he’s learned a lot about the business, which is why he is so passionate about passing his knowledge on to a new generation of brokers.


“What has remained constant is that you need a vast team, with vast knowledge and access to vast resources to deliver in these environments,” Walsh said.

“Going it alone was, and never is, an option; it’s all about our team and always will be,” he said.

“At present, I am privileged to have a talented group of young people recruited from our career development program, and young leaders from the construction risk management community, to develop a new generation of construction risk tools delivered through a web portal environment.”

A Friend of the Water


Max West Senior Vice President Aon, Chicago Category: Environmental

Max West
Senior Vice President
Aon, Chicago
Category: Environmental

Max West first became interested in the environment when, as a young man windsurfing off of Hayling Island in Great Britain, he became ill due to an accidental sewage spill.

After graduation, he took a position with AIG as an environmental underwriter and a career was born.

These days, West makes his mark by being a tireless advocate for his clients.

“I have a tremendous desire to win and manage the expectations of the client,” West said.

“I think some insurance brokers sit on data and submissions. I understand how important environmental insurance is to making a deal happen. I will never let environmental insurance get in the way of making a deal happen. They will never be waiting for me,” West said.

West regularly networks with environmental attorneys and consultants both to educate himself and to provide better professional contacts for his clients.

On the nonprofit side, West is a supporter and a board member of the Friends of the Chicago River. He also recently assisted his home town of Glenview, Ill., by finding an environmental solution that allowed affordable housing to be maintained on Chicago’s North Shore.

“Deals would not happen and litigation would not be settled without environmental risk transfer,” West said.

Commitment to Clients and the Community

Jeremiah White Account Executive Aon, Baltimore Category: Transportation

Jeremiah White
Account Executive
Aon, Baltimore
Category: Transportation

Aon’s Jeremiah White takes involvement and leadership to the next level, both within his company and his community. He writes to political representatives on the federal level to express his clients’ opinions on industry-relevant topics and lobbies for their interests. He meets with local municipalities to discuss contract requirements and upcoming railroad projects, exceeding expectations to make life a little easier for his customers.

At Aon, he commits a few hours each week to talking with younger brokers, “to make sure they are learning the ‘why’ instead of just ‘how.’ ” He presents himself as a resource for his younger colleagues, helping to boost their product knowledge and pass along his energy and excitement.


And the number of community service projects that White gives his time to cannot be counted on two hands. He participates in 5K charity runs for schools in his community, volunteers for an area cold weather shelter, serves as a volunteer assistant coach for youth football and participates in his local chapter of the American Legion. White also represents the rail industry and Aon at numerous professional events.

“My time is my most valuable resource,” White said, “so whenever I am giving my time to help others I know that I am contributing positively to the future.” As the main contact for and face of the Aon Rail Practice, White is making a good impression.

Tireless Educator

Winnie Wong Senior Vice President Momentous Insurance Brokerage, Van Nuys, Calif. Category: Entertainment

Winnie Wong
Senior Vice President
Momentous Insurance Brokerage, Van Nuys, Calif.
Category: Entertainment

Winnie Wong’s passion for the industry that she serves as an insurance broker clearly goes beyond the transactional. She strives to be a resource for the filmmaking community and has taught classes on entertainment insurance for UCLA Extension, the International Documentary Association and Film Independent. Wong has also written articles and authored blog posts on some of the finer points of the film production business.

Experience taught Wong that filmmakers tend to pour all of their energy into the creative process and often lose sight of other crucial aspects of the business. She recognized that this lack of knowledge could imperil young filmmakers financially and even prevent promising films from ever being released. To help fill that gap, Wong authored a 14-chapter textbook, Hollywood Studio Production Techniques, to give young filmmakers the tools they need to navigate the business end of film. In addition to information about insurance and risk management on the set, it also covers the roles of the production crew, deal memos, contracts, tax incentives, locations, equipment, scheduling, budgets and more.

She does this because she wants to see young artists achieve their full potential creatively and not be blindsided by unforeseen liabilities. She is equally committed to helping young brokers thrive in their careers.

As a member of several film associations and a Women in Film board member, Wong encourages young people to pursue jobs in the entertainment insurance field.

More from Risk & Insurance

More from Risk & Insurance

Insurance Executive

A Leader for Turbulent Times

Lloyd’s CEO Inga Beale is tasked with guiding the venerable insurance market through Brexit and the demands of the fiercely competitive global specialty business.
By: | July 6, 2017 • 12 min read

Underwriters at Lloyd’s are accustomed to taking on complex, even daunting, risks. The company’s leader looks at the world today and sees plenty of opportunity, but also much to be concerned about.

“Political instability is something that troubles me more than anything else because I think there is now more uncertainty across the world than there has ever been,” said Inga Beale, CEO of Lloyd’s of London.

“It feels that all of the norms that I grew up with are being challenged — openness, globalization, acceptance, inclusion — on a global scale.”


Appropriately, we’re sitting around a table in Beale’s modern glass-fronted office at the top of the Lloyd’s Building — itself a vision from the future — to talk about Brexit and Lloyd’s newly announced Brussels subsidiary.

Add to the mix Donald Trump and the threat of nuclear attack from North Korea, the bombing of Syria and a spate of terrorist attacks across Europe, and it’s clear we are living in the most dangerous period certainly since the Cold War, or possibly ever, believes Beale.

That belief received even more chilling reinforcement when terrorists detonated a bomb at an Ariana Grande performance in Manchester, England on May 22.  Twenty two people, some of them children, were killed and more than 50 wounded in that attack.

Three years ago, it was Beale herself making world headlines with her appointment as the first female CEO in Lloyd’s 329-year history. But now Brexit and other seismic disruptions to world order have taken center stage.

Lloyd’s announced at the end of March that it would establish a new European subsidiary in Brussels in time for January 1, 2019 renewals so it can continue writing risks for all 27 European Union (EU) and three European Economic Area states after the UK exits the EU.

Currently, it uses its passporting rights to serve EU customers from London, but the expected loss of those rights after Brexit necessitated the establishment of a new subsidiary.

For now though, it’s business as usual, said Beale, with the UK remaining a full EU member for at least two more years. She added, with a reassuring smile, that there will be no immediate impact on existing policies, renewals or new policies written during that time.

“We were campaigning very much to remain in the EU before the referendum because we knew what the likely impact [of leaving the EU] would be on Lloyd’s,” said Beale, whose impressive resume includes stints with GE Insurance Solutions, Zurich and Canopius.

“We rely very much on our licensing network, and being part of the EU means that from London we can write insurance and reinsurance for all of the EU countries with our passporting authority.

“But with the UK exiting the EU, it now means that we lose those licensing powers to offer insurance with immediate effect. To counteract this, we have determined to set up a subsidiary within the EU, meaning that about five percent of our global revenues will have to go through this subsidiary because it is insurance business offered to our EU-based clients.”

Beale and her team also negotiated that most of Lloyd’s underwriting business will remain in London, as will the majority of the transactions and decision-making powers. Meanwhile, the manpower needed to run the new Brussels operation will be in the “tens rather than hundreds,” she is quick to point out.

“It’s not a huge raft of people having to move over,” she said.

“Lloyd’s will continue to do 95 percent of its business as it has always done — it’s only the other five percent that will have to go through a separate legal entity, and we’re not anticipating any further changes to our business model as a result.”

Beale, whose dual role is both supervisor and advocate for the market’s 100-something member underwriting syndicates, says that the franchise board chose Brussels over other locations including Luxembourg, Dublin and Malta because of its “robust and quality” regulatory regime.

“At the time, I didn’t even know that reinsurance existed, but once I discovered it I absolutely loved it.” — Inga Beale, CEO, Lloyd’s of London

It also provides access to a multilingual talent pool, is near to London, and, most importantly she stresses, is located in a member state with a “very high certainty of staying in the EU.”

“We want people who reflect our customers,” she said.

“The London insurance market is littered with people from all over the world because London is such a global insurance hub, so we need experts here who speak the language and understand the different cultures.”

North American Footprint

Despite its large European market, it’s the other side of the pond where Lloyd’s really thrives. Approximately 46 percent of its business comes from the U.S., mainly California earthquake and East Coast hurricane risks, she said.

Lloyd’s also remains the No.1 excess and surplus lines insurer in the U.S. and the largest non-U.S. domiciled insurer, she added.

“We have done really well in terms of growing our E&S market share over there,” she said.

“That’s our sweet spot; those non-standard risks that are hard to place.”

By contrast, Beale said that reinsurance has become a much more competitive market with new entrants offering alternative types of reinsurance putting a squeeze on prices. As a consequence, Lloyd’s has focused more on insurance, she said.

“We have also done well in Canada and with our delegated authority through our Managing General Underwriters and Managing General Agents,” she said.

“It’s this very local and specialist distribution channel that has been our success story across North America.”

In January, Beale was made a Dame Commander of the Order of the British Empire — the female equivalent of being knighted — and is also the Association of Professional Insurance Women’s Insurance Woman of the Year for 2017.

“What concerns us most is not individual risks such as earthquakes and hurricanes, but rather assessing the aggregation of our exposures to financial and liability-type risks with no geographical boundaries.” — Inga Beale, CEO, Lloyd’s of London

As the person directing Lloyd’s, she is also acutely aware of the shift in power towards emerging economies, with McKinsey recently reporting that 67 percent of commercial insurance growth will come from those markets by 2020.


In response, Lloyd’s has focused its efforts on Asia and Latin America, transferring more than half of its managing agents to its Shanghai and Beijing platforms; and it was recently granted final approval to open a reinsurance office in Mumbai, she said.

“That’s where the future’s going to be,” she said.

“We know that a lot of the business is no longer coming to London in the traditional way, hence we have set up a Singapore platform and platforms in China, and opened up an office in Dubai as well as in India to be closer to our clients and brokers there.”

Lloyd’s profits last year were flat at $2.7 billion, while GWP was up $3.9 billion.

The market made a profit despite taking a $2.7 billion hit for major claims — the fifth highest such total since the turn of the century — primarily due to Hurricane Matthew and the Fort McMurray Wildfire in Canada.

Although natural disasters are Lloyd’s bread and butter, its real strength is in insuring complex risks, from cargo ships and satellites to political and terrorism risks.

Lloyd’s Role in Cyber

It’s the aggregation of those harder-to-quantify risks such as cyber security that concerns Beale most. Expected to grow to $7.5 billion in global premiums business by 2020, cyber is a big focus for Lloyd’s. It has a 25 percent market share and aggregate limits of approximately $650 million per risk, she said.

“What concerns us most is not individual risks such as earthquakes and hurricanes, but rather assessing the aggregation of our exposures to financial and liability-type risks with no geographical boundaries,” she said.

“We saw that with the financial crisis and the collapse of Fanny and Freddie, and its impact on Greece, but now it’s cyber.

“We have interviewed numerous risk managers and they are telling us that they are only insured against less than 10 percent of the risks that their businesses face on a daily basis. Our challenge is to make sure that we are continuing to adapt as fast as their businesses do and that we are delivering the relevant products that they need.”

Another area where Lloyd’s has seen an uptick is political and terrorism risk, said Beale.

The U.S. standoff with North Korea, Brexit and a swath of ISIS terrorist attacks across Europe have only exacerbated the problem, heightening fears among those countries’ citizens and tearing whole communities apart.

“We would love to get to a stage where a client can track something being quoted or a claim being paid, just like you do with a package being delivered [to your home].” — Inga Beale, CEO, Lloyd’s of London

Just witness the anguish of the victims and families in the Manchester concert bombing.

“We have seen a dramatic increase in demand for these types of products because of the political instability everywhere at the moment, particularly for companies that are trading cross border with countries where governments can suddenly intervene at a moment’s notice,” she said.

“Similarly, businesses are looking to protect themselves against the ever-growing threat of terrorism, which is where Lloyd’s can step in to give them the confidence to keep on trading.”

Reforming Lloyd’s

Within Lloyd’s itself, Beale has been at the forefront of trying to modernize the aging institution. Despite its modern metallic and glass exterior, inside Lloyd’s there’s still very much what some might term a stuffy “old boys’ club” culture.

Men are required to wear a tie and women weren’t allowed into the underwriting room until 1972. Brokers still walk around with leather slipcases crammed full of paper.

The Lloyd’s headquarters on Lime Street.

Beale’s predecessor, Richard Ward, tried to modernize Lloyd’s but left plenty for Beale to address in that respect.

Beale committed $700 million over the next five years to upgrade Lloyd’s aging computer and IT systems, with the end goal of achieving one-touch data capture to speed up the premiums and claims process.

“It’s about following that data all the way through the process from the client to the intermediary and the underwriter, and the processing of the premiums and claims,” she said.

“We would love to get to a stage where a client can track something being quoted or a claim being paid, just like you do with a package being delivered [to your home].”

Another area Beale is keen to shake up is diversity within Lloyd’s itself. Currently the market is two-thirds male, while only 11 percent of the whole London insurance market are non-UK nationals — a damning statistic that Beale is all too aware of.

“The Lloyd’s market doesn’t reflect the demographics of the whole of London and we are very conscious that we’re not tapping into all of the available talent that’s out there,” she said.

“We need to cut out the old ideas, try to challenge the unconscious bias and create an environment that is welcoming for people who are a bit different.”

Beale has also been pushing the [email protected] initiative, currently in its third year, and in September Lloyd’s will host the third annual Dive In festival to promote diversity and inclusion in the insurance industry.

In addition, 95 percent of the Lloyd’s market has already signed up to its Diversity & Inclusion charter to improve diversity, she said.

“To attract the best talent we need to modernize and look at how we can change our working practices and hiring decisions for the better,” she said.


“There’s a vast amount of work that we are actively doing to encourage people to be more open and seek more diverse talent.”

On a personal level, Beale readily admits that she was late to the leadership game, and it was only her mentor, Annette Sadolin at GE, who convinced her to take her first promotion.

That lack of confidence is something that, as a leader, Beale has witnessed in her own team and she is keen to help overcome.

“Annette became very much a mentor for me throughout my career, so whenever I have had to make key decisions I would always ask her view,” she said.

“The key lesson that I have learnt from her is that things move so quickly and you need to take opportunities when they come along that give you exposure to something new, even if they don’t seem like a natural career path at the time.

“For me, being a leader is all about inclusion and being passionate about the people you work with because you need to inspire and motivate them. But there is also nothing more rewarding than watching people progress their careers.”

A Truly Global Journey

Beale, who initially harbored ambitions of being an architect, admits that she “fell into reinsurance,” starting as a trainee international treaty reinsurance underwriter at Prudential Assurance Company in London in 1982. But once she had a taste there was no turning back.

“At the time, I didn’t even know that reinsurance existed, but once I discovered it I absolutely loved it,” she said.

“I fell in love with the global nature of the risks that came to London; one day you could be looking at a piece of business from Chile, the next from Australia.”

But, back then, working in a male-dominated industry where she was the only woman among 35 men, Beale struggled to fit in. So she quit and went travelling for 10 months.

It was during her time as a receptionist at the BBC in Sydney, Australia that Beale worked under her first female boss, a formidable woman, she said.

Inspired by her boss’s strong work ethic, Beale decided to return to the insurance business.

She soon landed a job with GE Insurance Solutions in Kansas City, where she held various underwriting management roles, before being appointed president of GE Frankona and head of continental Europe, Middle East and Africa for GE Insurance Solutions in Germany.


After 14 years at GE, Beale moved to Switzerland with Converium as group CEO in 2006.

Two years later, she joined Zurich Insurance Group as a member of the group management board in Zurich before being appointed global chief underwriting officer, prior to her appointment as group CEO at Canopius in 2012.

The breadth and depth of her experience makes Beale a natural fit for the demands of the Lloyd’s top job.

There’s no doubt she’ll be drawing upon every ounce of that expertise and experience to keep Lloyd’s at the cutting edge of this harrowing new world we live in.

Alex Wright is a U.K.-based business journalist, who previously was deputy business editor at The Royal Gazette in Bermuda. You can reach him at [email protected]