Conduit Holdings, the ultimate parent company of Conduit Re, a multi-line Bermuda-based reinsurance business, has appointed industry veterans Richard Lightowler, Peter Mullen, and Penny Shaw as Non-Executive Directors, effective March 26th, 2026.
Lightowler and Shaw will serve on Conduit’s Audit and Remuneration Committees, while Mullen will serve on the company’s Remuneration Committee.
Nicholas Shott, Chair, Conduit Holdings, commented on the appointments, “On behalf of the Board, I am delighted to welcome Penny, Peter and Richard as Non-Executive Directors.
“They each bring distinguished insurance industry experience and proven judgment that will be invaluable as Conduit continues to build on recent progress to deliver sustainable and long-term value for shareholders. Their appointments underline our commitment to the highest standards of governance.”
Lightowler has over three decades of re/insurance industry experience, of which he spent nearly two as a Partner at KPMG Audit Limited in Bermuda. At KPMG, he served as Head of the Bermuda Insurance Group, a member of the firm’s Global Insurance Leadership Team, and Global Lead Partner for large international insurance groups listed in New York and London.
Currently, Lightowler serves as a Non‑Executive Director of Oakley Capital Investments Limited and Hansa Investment Company Limited. He brings deep expertise across audit, capital markets transactions, and merger and acquisition due diligence, and in regulation, governance, risk management and operating model design.
Mullen is an industry veteran with over four decades of experience across re/insurance and alternative risk management. He has served as the Chief Executive Officer of both Artex Risk Solutions and Aon’s Captive and Insurance Management business.
As a founding member of Artex Risk Solutions, Mullen was intrumental in the growth of the company in alternative risk and capital. He has led complex insurance and alternative market operations across over 20 jurisdictions and brings deep expertise in marketing, distribution, governance, enterprise risk management, mergers and acquisitions, and operational transformation.
Currently, Mullen serves as a Non-Executive Director of Artex Risk Solutions and as an Executive committee member of Gallagher Specialty.
Lastly, Shaw is an experienced non-executive director and a qualified actuary with over three decades of experience across the London Market, US and international commercial re/insurance markets. Most recently, she served as Group Chief Risk Officer at Hanover Insurance Group, and has also served as Board Director and Chief Risk Officer of its then subsidiary, Chaucer Group.
Prior to this, Shaw held the roles of roles Group Chief Risk Officer at Hiscox Group, Head of Risk at Chubb European Group and Joint Head of Capital at Chubb Group. She has extensive experience across actuarial, capital modelling and exposure management disciplines, and in risk, underwriting, compliance, legal and regulatory engagement.
Currently, Shaw serves as a Non‑Executive Director of AIG UK Limited, Assured Guaranty UK Limited, Assured Guaranty (Europe) SA, Zurich Assurance Ltd, and Catalina Worthing Insurance Limited (Chair).
