AEGIS London is promoting Matthew Yeldham to CUO, while incumbent Alex Powell will become CEO.
While both positions are pending regulatory approval, the two are expected to move into their roles in the middle of the year after current CEO David Croom-Johnson retires.
In a statement, Powell said that he was delighted to continue working with Yeldham and that the appointment had been part of the company’s succession plan.
He added: “In line with our succession plan, Matthew’s appointment is the obvious choice, given his long-standing tenure on the AEGIS London Board of Directors and the depth of his underwriting knowledge and experience. He is well placed to help in our pursuit of a broad digitisation, automation and data led strategic agenda across all functions of the business, which will support our ambitions to be a dynamic underwriting platform at the forefront of our markets.”
Yeldham has been deputy chief underwriting officer since 2015, having joined AEGIS London in 2010. Previously, he held senior positions in the London insurance market, including Aspen Insurance Group and Wellington Underwriting.
There is a lot of movement going on at AEGIS London this week. Earlier today, the firm announced a £27m rise in reported Syndicate profit for 2021, alongside a 9% YoY increase in premium gross of commissions to £774m.
While Croom-Johnson is to retire in June, his tenure at AEGIS London—which began in 2015—has seen written premiums of commissions grow by 132%.
