Directorate Change

Helios Underwriting Plc

10 February 2025

 

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                                     [phone]

FTI Consulting

Ed Berry / Nathan Hambrook-Skinner                         [phone] / [phone]

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

 

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