Helios Underwriting has announced the additions of Tom Libassi of ILS Capital Management and Martin Reith, the Founder of Ascot Underwriting Limited, as Non-Executive Directors of the company with immediate effect.
Libassi is the Co-Founder and Managing Partner of ILS Capital Management. He joins Helios as a Non-Executive Director following his company’s participation in Helios’ recent capital raise.
Prior to founding ILS Capital Management, he served as Managing Director at Strategic Value Partners as well as serving as Chairman of Mach Gen LLC. Between 2000 and 2007, Libassi worked as a Senior Managing Director at GSC Group.
Earlier in his career, he held the role of Senior Vice President and Portfolio Manager at Mitchell Hutchins, a subsidiary of PaineWebber, Inc.
Reith has extensive experience across underwriting, management, and leadership. Most recently, he held board positions at Neon Underwriting as CEO from 2015 to 2019, later assuming a Non-Executive Director role until 2020.
He was the Founder and CEO of Ascot Underwriting Limited. Under his leadership, Ascot became one of the largest and top-performing businesses in Lloyd’s with a network of overseas offices.
Prior to Ascot, Reith served as CEO of XL Capital’s Insurance Operations in London. Previously, he has also served on the board of AmWINS Group, and previously served as Advisory Director to Securis Investment Partners LLP.
Nigel Hanbury, CEO of Helios, commented: “I am delighted that we have been able to attract two individuals of such reputation, experience and calibre to work with us at Helios Underwriting as we continue to grow the business and accelerate our consolidation of underwriting capacity at Lloyd’s. On behalf of the Board, I welcome Tom and Martin to the Company and look forward to working together during these exciting times in a hardening insurance market.”
