Carbon Underwriting CEO steps down
Carbon Underwriting has announced that co-founder and chief executive Nick Tye (pictured left) is retiring from the business for health reasons.
The company said that following a diagnosis of progressive Multiple Sclerosis, Tye had taken the difficult decision to step back from his role to focus on his health and spend more time with his family. Fellow co-founder and chief underwriting officer Jacqui Ferrier (pictured right) has been appointed chief executive with immediate effect.
Ferrier will continue to work closely with fellow co-founder and managing director Ben Laidlaw and chief financial officer Alex Poracchia and the senior leadership team. Together, they will lead Carbon through its next phase of growth, with the continued support of investor Apiary Capital.
Tye co-founded Carbon in 2018 with Ferrier and Laidlaw with a bold vision to reimagine delegated underwriting through technology, data, and a collaborative, people-first culture.
Carbon specialises in portfolio business and as such has appetite to access business written through captives, a spokesperson told Captive International.
In a statement Carbon said that over the last six years Tye has led the business with clarity and conviction, helping to build a vibrant and 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, transitioning to full syndicate status in 2023. The business remains focused on delivering underwriting excellence, advancing its digital capabilities, and nurturing a culture that empowers people to thrive.
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.”
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