Former Lloyd’s CEO John Neal says he does not accept findings against him and is focused “solely on what’s next” in his career.

As previously reported, Lloyd’s says a relationship between Mr Neal and a female employee breached compliance policies and employment terms, and his behaviour fell “significantly below” standards expected of senior leaders.

The undisclosed relationship with former corporate affairs director Rebekah Clement was “sufficiently close” that it could “be viewed as creating a perceived conflict of interest”, a Council of Lloyd’s investigation concluded.

However, Lloyd’s found no conclusive evidence Mr Neal and Ms Clement were engaged in a romantic relationship during their employment, or of process failures in the promotion of Ms Clement.

Mr Neal said last week’s Lloyd’s statement “draws a line under a long process” for him and others.

“I am pleased, but not at all surprised, that the investigation found there was no inappropriate relationship,” he told insuranceNEWS.com.au.

“I would have hoped less time and resource had been spent in reaching a conclusion on the central question that was, in truth, never in doubt.

“I am disappointed with the other findings and do not accept them, but I’m glad that all parties are now able to move on.

“I look back on my time at Lloyd’s with real pride, and wish the corporation and the market every continued success in and for the future.

“My focus is solely on what’s next in my career.”

Ms Clement is considering legal action against Lloyd’s, which said she should have modified her behaviour.