Nick Tye, the co-founder and CEO of Carbon Underwriting, has announced his retirement due to health issues. After being diagnosed with progressive multiple sclerosis, Tye has decided to step back to focus on his health and family. His departure marks a significant change for the London-based managing general underwriter, which he helped establish in 2018.
Taking over as CEO is Jacqui Ferrier, who co-founded Carbon alongside Tye and Ben Laidlaw. Ferrier, who has served as the Chief Underwriting Officer, is seen as a natural successor. She will work closely with Laidlaw and CFO Alex Poracchia, continuing to guide the company through its next growth phase with the support of investor Apiary Capital.
Tye expressed pride in what Carbon has achieved, highlighting the company’s commitment to a people-first culture and innovative underwriting practices. He reflected on his journey, stating that building Carbon was a career highlight. He emphasized his confidence in Ferrier and the leadership team, wishing them success in the future.
In a separate development, Chaucer Group, a specialty re/insurance company based in London, has made two key appointments in its International Property division. Emma Brown and Andy Cleair have joined as class underwriters, reporting to Mel Smart, the head of International Property Fac.
Brown comes to Chaucer with over 20 years of experience in Lloyd’s and company markets. She previously worked at SCOR as a senior property underwriter and has held various roles at notable companies such as Navigators and Liberty. Cleair also brings extensive experience, having worked at Everest Syndicate and Aviva, with a strong background in property underwriting.
These new hires will help Chaucer expand its international property portfolio, leveraging their extensive networks to attract new business and maintain existing relationships. The International Property Fac team at Chaucer now consists of nine underwriters across multiple offices, all with significant industry experience. Chaucer is a subsidiary of China Re, further solidifying its position in the market.