London-based consolidator’s executive chairman to step down

Helios Underwriting has announced that Michael Wade is stepping down from the role of executive chairman.

Wade will be succeeded by John Chambers, who will take up the position on an interim basis.

Helios Underwriting is a publicly listed consolidator of private capital at Lloyd’s of London.

Wade joined the firm in June 2023 and most recently oversaw its portfolio restructuring, materially reducing the company’s underwriting risk, gearing and overall cost base for 2025.

He has decided to step down from his role at the end of February to continue developing his non-executive portfolio.

Wade said: “Serving on the board of Helios has provided a unique perspective across the whole Lloyd’s market.

“I leave Helios and its diverse portfolio of syndicates delivering strong results and well positioned and wish Chambers and the board all the best for the future.”

Experience

Chambers joined the board of Helios as an independent non-executive director in July 2024 and has underwriting and executive experience across the London market.

Most recently, he was the director of underwriting at Aegis London, a role he held for 19 years.

Chambers said: “On behalf of the board, I thank Wade for his leadership and he leaves with our best wishes. He has played a key role in Helios’ strong growth and successful restructuring, leaving the business well positioned for the future.

“As we look ahead, I look forward to undertaking a search for a new chief executive. Helios remains committed to its long-term strategy of selecting the best-performing syndicates at Lloyd’s to maximise returns for investors.”