Carbon Underwriting names new chair

Predecessor stepping down following major investment by private equity firm

Carbon Underwriting names new chair

Insurance News

By Terry Gangcuangco

Managing general underwriter Carbon Underwriting Limited, which operates as Lloyd’s Syndicate CBN 4747, has brought in Rupert Atkin as chair Stephen Card’s replacement. 

“It was a real privilege to have worked with the team at Carbon since we founded the business over five years ago,” Card, who is being succeeded by Atkin with immediate effect, said in a release.

“The way the business has developed and grown since then is testament to the hard work of Nick Tye, Jacqui Ferrier, and Ben Laidlaw in fulfilling the vision we had for Carbon. With the investment from Apiary Capital, I am confident the team has not only the vision, but also the financial investment they need to see this made real.”

An incubator and springboard for managing general agents, Carbon secured the “significant strategic investment” in July.

Card added: “I feel that now is the appropriate time for me to step down, after five successful years at Carbon, and hand over to a new chairman. In Rupert Atkin, we have a highly regarded and experienced professional that I have known for over 30 years.

“I am delighted to be handing over to someone with his knowledge and experience and know that he will help guide Nick and the executive team through the next stage of Carbon’s growth.”

Atkin, founder of Syndicate 1183 and chair of Ark Managing Agency and Whitespace, previously served as chair and chief executive of Talbot Underwriting. He also held the position of Lloyd’s Market Association chair from 2012 to 2015 and was a Council of Lloyd’s member from 2006 to 2016.

“I am honoured to be stepping into the role of chairman at Carbon Underwriting,” Atkin commented. “This is an exciting time for the company, and I look forward to working closely with Nick and the executive team as we pursue new avenues of growth and innovation.

“Carbon’s commitment to advancing underwriting practices we hope will continue to set new standards in the industry for a future marked by innovation and an unwavering commitment to raising the bar for service to Carbon clients.”

Carbon CEO Nick Tye ushered in the change while thanking Card.

He said: “We are grateful for Stephen Card’s leadership and dedication during his time as chairman. His insights and wise counsel have been invaluable in steering Carbon’s growth journey, and he has contributed to the successful growth of the first Lloyd’s ‘syndicate in a box’ to transition to full syndicate status, making history in our market.

“We are now excited to welcome Rupert Atkin as our new chairman, and we are confident that his deep industry knowledge and leadership experience will contribute significantly to the next phase of Carbon’s evolution.

“Under Rupert’s guidance, Carbon is poised to continue its transformation within the underwriting sector. This transition also follows the strategic investment from Apiary Capital, which marked a pivotal moment for Carbon as we further our mission to revolutionise the world of delegated underwriting and establish a global benchmark of excellence.”

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