Lloyd's has announced that its CFO John Parry will leave the Corporation after 17 years of service.

Parry joined Lloyd's in 2001, taking the reins as CFO in December 2014. He is a member of both the Lloyd's Board and Executive Committee.

In a statement, the Corporation said that Parry's leaving date has yet to be confirmed and it will begin the search process for his successor immediately.

Commenting on his departure, Lloyd's CEO Inga Beale said that Parry had made an "exceptional contribution" to Lloyd's Corporation and market.

"In a period of unparalleled change in the insurance industry, his knowledge, experience and great commitment to the Lloyd's market have earned him the respect of all those who work with him. I have very much enjoyed working with John and value the support he has given me. I wish him every success in the future," she said.

Meanwhile, Parry remarked: "I have thoroughly enjoyed my time with Lloyd's and working for this great market. I have though decided that now is the right time to leave and look for new challenges. My passion for Lloyd's is undimmed and I am keen to ensure a smooth transition."