Helios Underwriting - Directorate Change
04/04/2023 07:00
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RNS Number : 2135V Helios Underwriting Plc 04 April 2023
4(th) April 2023
Helios Underwriting plc
("Helios" or the "Company")
Directorship Change
Appointment of Martin Reith as Chief Executive
Helios, the unique investment vehicle that acquires and consolidates
underwriting capacity at Lloyd's, is delighted to announce the appointment of
Martin Reith as an Executive Director of the Company and as Chief Executive
Officer ('CEO') with immediate effect. Nigel Hanbury will remain on the Board
as Executive Deputy Chairman, so that the Board can continue to benefit from
his leadership and his extensive knowledge of Lloyd's.
Martin Reith has nearly 40 years' experience across underwriting, management
and leadership. Prior to joining Helios as a Non-Executive Director in 2021,
he held board positions at Neon Underwriting Limited, as CEO from 2015 to 2019
and then assumed a non-executive role until 2020. For the last 12 months,
Martin has been heavily involved in advising the Board on the curation of the
Helios capacity portfolio.
Martin was the founder and CEO of Ascot Underwriting Limited, which he
established in 2001 with the support and backing of AIG. Under his leadership,
Ascot became one of the largest and top-performing businesses in Lloyd's with
a network of overseas offices. In 2009, Martin stepped down as CEO and served
as a non-executive on Ascot's board from 2009 to 2011. Prior to Ascot, he
served as CEO of XL Capital's Insurance Operations in London. He is the
founder of The Nick Kilhams Foundation, a suicide prevention charity focused
on helping city professionals. He has also been a member of the board of
directors at AmWINS Group Inc. and has previously served as a director to
Securis Investment Partners LLP, an ILS fund based in London, on their various
boards. He is currently non-executive chair at Artificial Labs and a board
member of Prospero Re, the reinsurance vehicle of Bermuda headquartered ILS
fund and investment manager Resolute Global Partners Ltd, a 17.3% shareholder
of the Company.
Commenting on his appointment, Martin Reith said:
"Helios is an extraordinary business that has grown significantly in recent
years and is seen as the benchmark for private capital in the Lloyd's market.
I see exciting opportunities for further shareholder value creation,
specifically by repositioning the earnings stream into a combination of
underwriting returns, fees and commissions to support further profitable
growth. I look forward to setting out my strategy in detail in due course."
Michael Cunningham, Non-Executive Chairman of Helios Underwriting, commented:
"We are delighted by Martin's elevation to CEO. His proven experience in
driving growth strategies and creating significant shareholder value means
that he is perfectly positioned to lead Helios on to its next stage of
evolution.
"We are also very pleased that we will continue to benefit from Nigel's
experience and expertise. In his decade as Chief Executive he has led Helios
from strength to strength through strategically targeted acquisition activity
and organic growth.
"With a plethora of opportunities open to us to take advantage of the current
Lloyd's market conditions to drive further growth, we look to the future with
confidence."
For further information please contact:
Helios Underwriting plc
Martin Reith - Chief
Executive
+44(0)7720 292 505
Nigel Hanbury - Executive Deputy Chairman +44 (0)7787 530 404
Arthur Manners - Chief Financial Officer +44 (0)7754
965 917
Shore Capital (Nomad and Broker)
Robert Finlay
+44 (0)20 7601 6100
David Coaten
Buchanan (PR)
Helen Tarbet / Henry Wilson / George Beale +44 (0)7872 604 453
+44 (0)20 7466 5111
About Helios
Helios provides a limited liability direct investment into the Lloyd's
insurance market and is quoted on the London Stock Exchange's AIM market
(ticker: HUW). Helios trades within the Lloyd's insurance market writing
approximately £297m of capacity for the 2023 account. The portfolio provides
a good spread of business being concentrated in property & casualty
insurance and reinsurance. For further information please visit
www.huwplc.com.
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