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He also mentioned that the insurance industry was facing a talent crisis amid the increasing dominance of the tech sector.

One executive was accused of groping colleagues at a booze-fueled party, while the other of stalking a junior employee.

To fend off rivals, Lloyd's new CEO plans to slash insurance premiums and make its market more efficient.

Lloyd's CEO John Neal says they will publicly name and shame anyone it bans from its insurance market for sexual harassment.

John Neal has taken over as the new chief executive officer at Lloyd's.