Dame Inga Beale
WILLIS TOWERS WATSONAbout Dame Inga Beale
Independent director of WTW since 2022; age 61. Former CEO of Lloyd’s of London (2014–2018) with earlier CEO roles at Canopius Group and Converium; 14 years at GE Insurance Solutions and senior underwriting/transformation roles at Zurich Insurance Group. Chartered Insurer; studied economics and accounting at Newbury College, Berkshire, England. Current committee roles: Audit Committee Chair and Risk & Operational Oversight Committee member; designated Audit Committee financial expert under Regulation S‑K .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Lloyd’s of London | Chief Executive Officer | 2014–2018 | Led market modernization and global strategy |
| Canopius Group Ltd | Chief Executive Officer | 2012–2014 | Lloyd’s market-focused leadership |
| Zurich Insurance Group | Global Chief Underwriting Officer; Head of M&A, Organizational Transformation & Internal Consulting | 2008–2011 | Enterprise underwriting, transformation initiatives |
| Converium Ltd | Group Chief Executive Officer | 2006–2007 | Swiss reinsurer leadership |
| GE Insurance Solutions | Various international roles | ~1992–2006 | International insurance operations |
| Geneva Association | Board Member | 2014–2018 | Insurance policy research and advocacy |
| UK Govt. Financial Services Trade & Investment Board | Member | 2015–2018 | Industry/trade policy advisory |
| London Mayor’s Business Advisory Board | Member | 2016–2021 | Business advisory to city leadership |
External Roles
| Organization | Role | Status/Tenure | Committees/Impact |
|---|---|---|---|
| NN Group N.V. | Director | Current | Insurance expertise; public company experience |
| Crawford & Company | Director | Current | Claims/insurance services governance |
| South Pole Holding AG | Chair | Current (private company) | Decarbonization advisory leadership |
| Mediclinic International plc | Director; former Chair | Prior | Healthcare governance experience |
Board Governance
- Independence: Independent under SEC/NASDAQ and WTW Director Independence Standards; independence evaluated despite ordinary course services with director‑affiliated organizations; no impairment determined .
- Committees & Chair roles: Audit Committee Chair; Risk & Operational Oversight Committee member .
- Attendance: All directors attended ≥75% of Board and committee meetings in 2024; all attended the 2024 AGM (WTW discloses this at the aggregate level) .
- Executive sessions: Independent directors met in executive session before/after regular meetings; chaired by the Non‑Executive Chair .
- Board leadership: Separate CEO and independent Board Chair; Paul Reilly elected Chair effective at conclusion of 2025 AGM .
- Tenure on WTW board: Independent director since 2022 .
| Governance Element | Detail |
|---|---|
| Audit Committee expertise | Designated audit committee financial expert; all audit members financially sophisticated |
| Board meetings (2024) | Eight formal meetings; frequent informal sessions with management |
| Risk oversight | Risk & Operational Oversight Committee covers ERM, cyber/tech/AI operational risks; Audit oversees financial/compliance risks |
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Board cash retainer (policy) | $125,000 | Payable 100% in equity at director’s election; policy revised 2024 |
| Committee Chair fee (Audit) | $25,000 (2024); $30,000 (effective 1/1/2025) | Increase aligns with market and restructured committee remit |
| 2024 actual fees earned (cash) | $150,000 | Includes board retainer + Audit & Risk Chair fee |
| 2024 share award grant-date fair value | $220,000 | RSUs vest at earlier of 1‑year post‑grant or next AGM |
| 2024 total director compensation | $370,000 | Sum of cash + RSUs |
Performance Compensation
WTW does not disclose performance conditions for non‑employee director equity; RSU awards vest time‑based on tenure (earlier of one year or next AGM).
| 2024 Director RSU Grant | Value |
|---|---|
| Grant date | May 22, 2024 |
| Number of RSUs | 858 |
| Grant‑date fair value | $220,000 |
| Vesting terms | Time‑based; earlier of 1‑year from grant or 2025 AGM |
| Performance metrics tied to vesting | None disclosed for directors (time‑based vesting only) |
Other Directorships & Interlocks
| Relationship Type | Entity | Potential Interlock Considerations |
|---|---|---|
| Public company board | NN Group N.V. | Insurance sector overlap; ordinary‑course services to/with director‑affiliated organizations evaluated and independence maintained |
| Public company board | Crawford & Company | Insurance services/claims ecosystem overlap; independence evaluation per policy |
| Private company chair | South Pole Holding AG | Climate advisory overlap with WTW sustainability oversight; no related‑party transactions disclosed |
WTW policy requires Audit Committee review/approval of related‑party transactions; only 2024 Item 404 transaction disclosed involved BlackRock; no other related‑party transactions required disclosure .
Expertise & Qualifications
- CEO/insurance and reinsurance leadership; transformation and risk management expertise .
- Financial literacy and audit oversight; designated Audit Committee financial expert .
- International business experience; public board service; technology/operational oversight per WTW skills matrix .
- Chartered Insurer; economics/accounting education .
Equity Ownership
| Holder | Shares Owned | RSUs Outstanding | Notes |
|---|---|---|---|
| Dame Inga Beale | 1,108 | 858 | As of Dec 31, 2024 |
- Director stock ownership guideline: 5x annual cash retainer ($625,000) to be met within 8 years of appointment; Thomas and Chima have satisfied; all other directors expected to meet in timeframe (implies Beale still in accumulation period) .
- Hedging/pledging: Directors prohibited from hedging; directors and executive officers prohibited from margin accounts and pledging company shares .
Governance Assessment
- Strengths: Audit Committee Chair with deep insurance CEO background and designated financial expert status; independence affirmed; attendance requirements met; robust WTW governance framework (separate Chair/CEO, executive sessions, director ownership guidelines, no hedging/pledging) supports board effectiveness and investor alignment .
- Compensation alignment: Director pay mixes cash retainer and time‑based RSUs with standard chair fees; equity retainer increased to align with market; straightforward structure, no performance‑pay for directors (appropriate for independence) .
- Potential conflicts/monitoring: External boards (NN Group, Crawford) in adjacent insurance ecosystems are common; WTW disclosed policy/process for ordinary‑course transactions and found no independence impairment; 2024 related‑party disclosures limited to BlackRock services; continue monitoring for any future related‑party engagements .
- RED FLAGS: None disclosed regarding related‑party transactions, hedging/pledging, or low attendance; not overboarded under WTW guidelines; directors subject to tenure limits and ownership guidelines .