Carbon Underwriting co-founder and chief executive officer Nick Tye is retiring from the business for health reasons, the company announced.
Following a diagnosis of progressive multiple sclerosis, Tye has decided to step back from his role to focus on his health and family.
With his retirement, co-founder and chief underwriting officer Jacqui Ferrier has been appointed CEO with immediate effect. Ferrier will work alongside co-founder and managing director Ben Laidlaw and chief financial officer Alex Poracchia, as well as the wider senior leadership team.
Despite the surprise announcement, the leadership group is business as usual with its strategy to steer Carbon through its next phase of growth, supported by investor Apiary Capital.
Tye co-founded Carbon in 2018 with Ferrier and Laidlaw, with the aim to reimagine delegated underwriting through technology, data and a collaborative culture. Under Tye’s leadership, Carbon developed its proprietary data ecosystem, Graphene, and established itself as a Lloyd’s Syndicate-in-a-Box via Asta in 2020, later transitioning to full syndicate status in 2023.
Earlier this year, the company also announced its entry into the international healthcare sector. Carbon Underwriting named Martin Leeks as head of international medical malpractice in January to lead the new division.
The business says that it continues to focus on underwriting performance, expanding digital capabilities, and developing a supportive workplace culture.
In his announcement, Tye described building Carbon has been the highlight of his 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,” he said.
Tye also assured clients and partners, remaining confident that Carbon is in good hands with Ferrier, Laidlaw, Poracchia and the wider leadership team.
“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,” Ferrier said.
What are your thoughts on this story? Please feel free to share your comments below.
