Follows a strategic review lead by Treasurer Jonathan Clark

Global Aerospace executive director Stephen Riley has been appointed as the new president of the Insurance Institute of London (IIL) for 2014/15.

Riley replaces Miller Insurance Services chief executive Graham Clarke and will be joined in his new role by Aon UK Ltd deputy president and Aon Benfield executive chairman Dominic Christian.

Riley said: “The theme of my presidency year focuses on attraction, promotion and development of talent in the London insurance market, which I believe is a key challenge for the institute and for the marketplace in which we all work, not only in this year but over the next decade.”

IIL secretary and chief executive Allison Potts said: “I would like to congratulate Stephen on his appointment and I look forward to working with him over the coming year and continuing to raise the level of professional knowledge of those not only in the London Market but also in the global insurance market.”