10
February 2025
Helios
Underwriting PLC
("Helios"
or the Company)
Directorate
Change
Helios Underwriting, the only publicly traded company offering
instant access to a diverse portfolio of syndicates at Lloyd's of
London, announces that Michael Wade, Executive Chairman, has
decided to step down from his role at the end of February to
continue developing his non-executive portfolio.
John
Chambers, currently a Non-Executive Director will become Interim
Executive Chairman.
Since
Michael joined Helios as Non-Executive Chairman in June 2023, he
has successfully guided the Company through a period of change and
strong performance.
Most
recently as Executive Chairman, he oversaw the Group's portfolio
restructuring, materially reducing the Company's underwriting risk,
gearing and overall cost base for 2025. These strategic priorities
will remain unchanged under John Chambers.
John
Chambers joined the Board of Helios as an Independent Non-Executive
Director in July 2024 and has extensive underwriting and executive
experience across the London Market. He was latterly Director of
Underwriting at AEGIS London where he helped build the business
from a fledgling syndicate into one of the largest and most
profitable in the London Market.
He
brings considerable experience across all aspects of running a
regulated insurer, from business planning through underwriting
management to risk management, as well as financial and regulatory
reporting.
John
Chambers, Interim Executive Chairman commented:
"On
behalf of the board, I thank Michael for his leadership and he
leaves with our best wishes. He has played a key role in Helios'
strong growth and successful restructuring, leaving the business
well positioned for the future. As we look ahead, I look forward to
undertaking a search for a new Chief Executive Officer. Helios
remains committed to its long term strategy of selecting the
best-performing syndicates at Lloyd's to maximise returns for
investors."
Michael
Wade commented:
"Serving
on the Board of Helios has provided a unique perspective across the
whole Lloyd's Market. I leave Helios and its diverse portfolio of
syndicates delivering strong results and well positioned and wish
John and the Board all the best for the future."
Contact
Deutsche
Numis (Nomad and Broker)
Giles
Rolls / Charles
Farquhar
+44 (0)20 7260 1000
FTI Consulting
Ed
Berry / Nathan
Hambrook-Skinner
+44 (0)7703 330 199 / +44 (0)7977 817 092
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. The portfolio provides a broad spread of business primarily
participating in the US and other international wholesale and
reinsurance markets. For further information please
visit www.huwplc.com
