REG - Conduit Holdings Ltd - Directorate change

Conduit HoldingsAnnouncement

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RNS Number : 3534Y  Conduit Holdings Limited  27 March 2026

Pembroke, Bermuda - 27 March 2026

Conduit Holdings Limited

("Conduit Holdings" LSE ticker: CRE)

Directorate Change

Conduit Holdings, the ultimate parent company of Conduit Re, a Bermuda-based
multi-line reinsurance business, today announces the appointments of Richard
Lightowler, Peter Mullen and Penny Shaw as Non-Executive Directors with effect
from 26 March 2026. Richard and Penny will serve on Conduit's Audit and
Remuneration Committees. Peter will serve on Conduit's Remuneration Committee.

 

Nicholas Shott, Chair, commented: "On behalf of the Board, I am delighted to
welcome Penny, Peter and Richard as Non-Executive Directors. They each bring
distinguished insurance industry experience and proven judgement, that will be
invaluable as Conduit continues to build on recent progress to deliver
sustainable and long-term value for shareholders. Their appointments underline
our commitment to the highest standards of governance."

 

Richard Lightowler brings extensive leadership and technical expertise from
more than three decades in the (re)insurance and professional services
industries to his appointment. Richard spent nearly 20 years as a Partner at
KPMG Audit Limited in Bermuda, during which time his leadership roles included
Head of the Bermuda Insurance Group, membership of the firm's Global Insurance
Leadership Team, and Global Lead Partner for large international insurance
groups listed in New York and London. Throughout his career, Richard has
developed deep experience across audit, capital markets transactions, and
merger and acquisition due diligence. He has expertise in regulation,
governance, risk management and operating model design. Richard currently
serves as a non‑executive director of Oakley Capital Investments Limited and
Hansa Investment Company Limited.

 

Peter Mullen is a senior insurance executive with over 40 years of experience
across (re)insurance and alternative risk management. Peter's distinguished
career includes serving as Chief Executive Officer of both Artex Risk
Solutions and Aon's Captive and Insurance Management business. A founding
member of Artex Risk Solutions, Peter played a central role in building the
platform into a global leader in alternative risk and capital. Peter has led
complex insurance and alternative market operations across more than 20
jurisdictions and brings deep expertise in marketing, distribution,
governance, enterprise risk management, mergers and acquisitions, and
operational transformation. Peter currently serves as a non-executive director
of Artex Risk Solutions and as an executive committee member of Gallagher
Specialty.

 

Penny Shaw is an experienced non-executive director and a qualified actuary
with over 30 years of experience across the London Market, US and
international commercial (re)insurance markets. She has held several senior
executive roles, most recently as Group Chief Risk Officer at Hanover
Insurance Group, where she also served as Board Director and Chief Risk
Officer of its then subsidiary, Chaucer Group. Prior to this, Penny's roles
have included Group Chief Risk Officer at Hiscox Group, Head of Risk at Chubb
European Group and Joint Head of Capital at Chubb Group. Penny has extensive
experience across actuarial, capital modelling and exposure management
disciplines, and in risk, underwriting, compliance, legal and regulatory
engagement. Penny currently serves as a non‑executive director of AIG UK
Limited, Assured Guaranty UK Limited, Assured Guaranty (Europe) SA, Zurich
Assurance Ltd, and Catalina Worthing Insurance Limited (Chair).

 

There is no further information required to be disclosed with respect to the
appointments of Richard Lightowler, Peter Mullen and Penny Shaw, pursuant to
paragraph 9.6.13R of the Listing Rules.

 

Media contacts

Haggie Partners - David Haggie / Peter Rigby / Caroline Klein

+44 (0) 207 562 4444

conduitre@haggiepartners.com

Investor relations and other enquiries

brett.shirreffs@conduitre.bm

Panmure Liberum (Joint Corporate Broker)

+44 (0) 207 886 2500

Berenberg (Joint Corporate Broker)

+44 (0) 203 207 7800

Peel Hunt (Joint Corporate Broker)

+44 (0) 207 418 8900

 

About Conduit Re

Conduit Re is a Bermuda-based multi-line reinsurance business with global
reach. Conduit Reinsurance Limited is licensed by the Bermuda Monetary
Authority as a Class 4 insurer. A.M. Best has assigned a Financial Strength
Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of a-
(Excellent) to Conduit Reinsurance Limited. The outlook assigned to these
ratings is stable.

Conduit Holdings Limited is the ultimate parent of Conduit Reinsurance Limited
and is listed on the London Stock Exchange (ticker: CRE). References to
"Conduit" include Conduit Holdings Limited and all of its subsidiary
companies.

Learn more about Conduit Re:

Website: https://conduitreinsurance.com/

LinkedIn: https://www.linkedin.com/company/conduit-re

 

 

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