Specialist managing general underwriter (MGU) Carbon has promoted Director Nick Tye to lead as Chief Executive Officer, succeeding Stephen Card in the role.
Card is set to transition to the Chairman position and maintain a leadership and mentoring role at the company.
Concurrently, Carbon has highlighted the onboarding of new capacity providers, efforts made to bolster its talent roster and the success of its data-driven underwriting tool Graphene.
“It has been an extensive team effort to accomplish such impact and success so far, and I would like to say a huge thank you to the team for their inspiring dedication and motivation,” said Card.
“This successful year as a Lloyd’s SIAB is a milestone we’re delighted to be celebrating. It is very positive and gratifying to see the next generation of leaders pick up the challenge, and I’m delighted that Nick Tye is taking the reins as CEO.”
Card added, “I’m looking forward to continuing to work closely with Nick, Jacqui, Chief Underwriting Officer, Ben, Chief Technology Officer and the entire Carbon team as we embark on the next stage in our growth journey and progress the important and valuable work of transforming the international Coverholder market.”
Commenting on his appointment, Tye noted, “We have achieved an incredible amount over the last three years, both as a team and with Stephen’s support, and we are now in a position to really capitalise on the opportunities the current market presents.
“We are on target to become the syndicate of choice for Coverholder business globally which would be an incredibly rewarding achievement for Carbon.
“One of our core fundamentals is building strong partnerships and maintaining those relationships – with our team, Coverholder partners, capacity partners, reinsurers and FAL providers – all of which have been vital for getting us to where we are today.”