Winifred "Wendy" Baker, who in 1990 became the first woman to lead a reinsurance company, will step down after nine years as president of Lloyd's America Inc. at the end of December 2007, A.M. Best has reported.
Baker managed Lloyd's offices in Montreal, New York, Chicago, Los Angeles, Kentucky and the Virgin Islands.
Baker, who reportedly has stepped down to pursue other interests, has overseen corporate marketing and communications, broker development, distribution and compliance and regulatory issues in the Americas.
A.M. Best notes the United States is Lloyd's largest market, accounting for US$8.5 billion or around 40% of its business in 2004. ?Before joining Lloyd's in 1998, Baker had a long career at Continental Corp., advancing to become president of Continental Re in 1990.
She joined Minet Re North America, New York, as senior vice president in charge of developing new business opportunities for its reinsurance intermediary and retail and wholesale insurance brokerage operations in North America.
In a statement, Lloyd's highlighted Baker's "significant role" in greatly increasing the insurer's U.S. market presence and leading American operations through difficult periods such as the Sept. 11, 2001, attacks and the 2005 windstorms. ?A replacement for Baker will be announced "in due course," Lloyd's has announced.