Lloyd’s focused investment vehicle, Helios Underwriting, announced the appointment of Michael Wade as Chairman during its Annual General Meeting.
Wade succeeds Michael Cunningham, who has retired from the company.
Wade brings a wealth of expertise and a distinguished career in various facets of the insurance industry, including broking, underwriting, capital markets, and insurance-linked securities.
With a notable history at Lloyd’s, Wade established CLM Insurance Fund plc, one of the pioneering Lloyd’s corporate capital vehicles, in 1993.
He later represented UK pension funds through Rostrum Group, facilitating their investments in listed Lloyd’s firms. Wade’s contributions extend beyond the business realm, as he has served on the Council and Committee of Lloyd’s and acted as a senior advisor to the Cabinet Office.
Currently, he holds the position of Non-Executive Chairman of Howden Tiger Capital Markets UK and serves as a senior advisor to Mitsui Sumitomo Insurance.
Expressing his enthusiasm about joining Helios as Chairman, Wade stated, “I am delighted to be joining Helios as Chairman at this exciting juncture of the Company’s journey and I look forward to working closely with the team. Helios should continue to benefit from London’s strong trading environment with firm insurance rates and opportunities for the Company to grow.”
Martin Reith, the Chief Executive Officer of Helios, expressed his excitement about Wade’s appointment, emphasising the value of his extensive industry knowledge and experience.
Reith commented, “I am thrilled to welcome Michael to the Board and look forward to working with him in his role as Chairman. Helios is well positioned to benefit from the current market environment and Michael’s extensive industry knowledge and experience will be a huge asset to the Board. I would also like to thank Michael Cunningham for his leadership and dedication to Helios over the past 16 years and wish him well in the future.”
