– UK, Great Missenden – Helios Underwriting Plc (LON: HUW), the unique investment vehicle that acquires and consolidates underwriting capacity at Lloyd’s, today announced the appointment of Martin Reith to its Board of Directors as CEO with immediate effect, succeeding Nigel Hanbury who will remain on the Board as Executive Deputy-Chairman.
About Martin Reith
Martin Reith has nearly 40 years of experience across underwriting, management, and leadership. Before 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. Before 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 the 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.
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 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.”
About Helios
Helios provides a limited liability direct investment into Lloyd’s insurance market and is quoted on the London Stock Exchange’s AIM market (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 more information: https://www.huwplc.com/
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