WORLD

Lloyd’s of London said Alan Lord, former chairman of Dunlop, will become its chief executive after the resignation of Ian Hay Davison, effective on March 1.

Last November, Hay Davison said he was quitting because an internal inquiry into the structure of Lloyd’s, the world’s largest insurance market, had led to discussions about changing the status of the chief executive. The British government also has launched an inquiry into the 300-year-old Lloyd’s.