Carbon Underwriting Limited, a specialist independent managing general underwriter and Lloyd’s syndicate, has announced the retirement of Co-Founder and CEO Nicholas (Nick) Tye due to health reasons.
After being diagnosed with progressive multiple sclerosis, Tye has made the decision to step back from his role to focus on his health and spend more time with his family.
Jacqui Ferrier, Co-Founder and Chief Underwriting Officer, has been appointed as the new CEO.
Ferrier will continue to work closely with Co-Founder and Managing Director Ben Laidlaw, CFO Alex Poracchia, and the senior leadership team to guide Carbon through its next phase of growth, with continued support from investor Apiary Capital.
Tye, who co-founded Carbon in 2018 with Ferrier and Laidlaw, played a pivotal role in building a successful underwriting platform underpinned by Carbon’s proprietary data ecosystem, Graphene. Carbon launched as a Lloyd’s Syndicate-in-a-Box (SIAB) via Asta in 2020 and transitioned to full syndicate status in 2023.
Tye said, “Building Carbon has been the highlight of my career. From the very beginning we set out to create something genuinely different. It’s been a tremendous journey, and I am so proud of what we have accomplished. Carbon has always been defined by terrific people and excellent culture, and our team is extraordinary. I’m deeply grateful for the friends, colleagues, and partners who have supported us along the way.
“Stepping down was not an easy decision, but following my diagnosis of progressive MS, it’s the right one. I want to focus my time and energy on my health, and my family. I leave Carbon in the best possible hands with Jacqui, Ben, Alex and the wider leadership team. Jacqui’s deep understanding of the business, her integrity and drive make her the ideal person to take the business forward and I know that Carbon will flourish under her direction. I wish the whole team every success for the future, and I have every confidence that Carbon will continue to fly.”
Ferrier added, “Nick is an inspiring leader, colleague and friend, and his vision and values run deep through the DNA of Carbon. It’s an emotional time for all of us at Carbon, but, in the spirit of Carbon’s focus on humanism, one that we have been able to navigate closely together. We remain committed to the strategy we’ve built and the legacy Nick has been instrumental in building with us. It’s a privilege to take on the role of CEO as we accelerate into this exciting new chapter, and I’m personally grateful for the overwhelming degree of support and compassion our clients and partners have shown to us and to Nick and his family during this difficult time.
“On behalf of the whole team, I want to thank Nick for everything he’s contributed to Carbon and the legacy he leaves. His impact will continue to shape our business for years to come.”
