Nicholas Furlonge will retire from the board of Lloyd's insurer Beazley today.

He was executive director in charge of risk management.

Furlonge co-founded Lloyd's managing agency Beazley, Furlonge & Hiscox, the foundation of today's group, with the late Andrew Beazley and Hiscox chairman Robert Hiscox in 1986.

Furlonge and Beazley bought Hiscox out in 1992 and the agency was renamed Beazley Furlonge.

Andrew Beazley died in October last year.

Furlonge is a non-executive director of the Lloyd's Franchise Board and the Lloyd's Market Association, and is chairman of the Lloyd's Community Programme.

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