Probitas has announced that Ash Bathia (pictured, left), its chief executive officer, and Nick Bacon (pictured right), its managing director, will retire on July 31, 2025, after nearly a decade of leadership at the company.
Under their guidance, Probitas evolved from a start-up at Lloyd's with just four employees and no business to a successful syndicate with approximately £400 million in gross written premiums and seven consecutive years of top-quartile financial performance. Their leadership focused on underwriting discipline, service, and fostering a strong corporate culture, it was stated.
Bathia has been a prominent figure in the insurance industry for over 40 years, holding senior roles in major insurance firms prior to joining Probitas. His extensive experience in underwriting and market strategy was key to the company’s development, particularly in the Lloyd’s market, where he established a reputation for innovation and excellence.
Bacon, who has worked alongside Bathia for many years, also brings a wealth of experience across underwriting, business development, and client relationship management. His focus on maintaining high service standards and building strong client relationships was instrumental in Probitas’ growth.
Following Bathia's retirement, and subject to regulatory approval, Matthew Washington, managing director for Global, Corporate & Specialty (GCS) at Aviva, will assume the role of CEO of Probitas. Washington will continue his current responsibilities at GCS as part of the transition.
Although both Bathia and Bacon will step down from their daily operational roles, they will remain with Probitas in an advisory capacity to support the business and ensure a smooth transition.
“After 46 years in this amazing industry (who says insurance is boring!), the time has come for me to pass on the baton to the next generation,” Bathia said. “I am immensely proud of our people and what we have achieved together over the past 10 years. It has been a privilege to have been part of this incredible journey, and I have complete confidence that the team will continue to build on this legacy and carry our vision forward.”
Jason Storah, CEO of UK & Ireland General Insurance at Aviva, commended Bathia’s contributions.
“Over the last decade, Ash has built an incredibly successful Lloyd’s franchise and paved the way for Aviva’s entry to the Lloyd’s market, through our acquisition of Probitas,” Storah said. “We extend our sincere thanks to Ash and Nick and wish them all the best in their retirements.”
