£340k penalty for office affair

LLOYD’S of London’s new boss had his pay docked by £340,000 last year for failing to reveal an affair.

John Neal – who took charge of the 330-year-old insurance market this week – was criticised for the tryst when he was chief executive of Australian insurer QBE.

The 53-year-old was meant to disclose any romantic links that could cause a conflict of interest but failed to tell the board quickly enough about his relationship with the personal assistant who had worked for him for a decade. Neal reportedly separated from his wife in 2016 and began seeing the woman.