Sax Riley Dies
International Editor
London
Sax Riley, who was chairman of Lloyds during 2001 and 2002, died on July 25.
During his tenure, he ushered in a major program of reforms designed to increase the markets transparency and raise the quality of underwriting and business performance across Lloyds syndicates.
Prior to joining Lloyds as chairman, he had been a director of Marsh & McLennan. He had been chairman of Sedgwick when the broker was bought by Marsh in 1998. In 1997, Mr. Riley became chairman of SOC Group plc, a holding company that owns a Lloyds members agency and a managing agency. He remained chairman there until his death.
"All those who knew and worked with Sax will be shocked and devastated by this news," said Nick Prettejohn, CEO of Lloyds, in a statement. (Mr. Riley collapsed and died from a suspected heart attack while playing a game of golf.)
"Sax was held in high regard and affection, and I considered it an honor to work with him. His chairmanship of Lloyds brought historic reform and outstanding leadership through the difficult times after the tragedy of 9/11. He was a determined, cultured and intelligent man with a wonderful sense of humor and a splendidly forthright style," Mr. Prettejohn continued.
Reproduced from National Underwriter Property & Casualty/Risk & Benefits Management Edition, August 4, 2003. Copyright 2003 by The National Underwriter Company in the serial publication. All rights reserved.Copyright in this article as an independent work may be held by the author.
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