Press Release: Carbon Underwriting Welcomes Industry Leaders to Board of Directors
London: 10 February 2025 – Carbon Underwriting Limited ("Carbon"), the specialist independent managing general underwriter and Lloyd's syndicate, today announces significant updates to its Board of Directors.
Industry leaders Paddy Byrne and Michael Watson join as Chairman and Non-Executive Director (NED) respectively, subject to regulatory approval, bringing a wealth of expertise and independent insight to help propel Carbon's next phase of growth. Their appointments coincide with the planned exit of Chairman Rupert Atkin, who has been instrumental in cementing Carbon's reputation as a benchmark of excellence in delegated underwriting authority (DUA) business at Lloyd's.
Paddy Byrne, a seasoned executive with a combination of insurance and technology expertise, has held prominent roles such as Senior Non-Executive at SRG Group, Chairman of 6point6 Ltd and Executive Director UK of Xchanging Ltd. Michael Watson, founder of Canopius and former member of the Council of Lloyd's, offers exceptional leadership experience and an extensive network within the insurance sector. Together, they bring multifaceted perspectives to Carbon's dynamic board.
Aligned with Carbon's strategic goals and the support of its investor Apiary Capital, Watson and Byrne's expertise will enhance Carbon's ability to deliver innovative solutions to the international coverholder market, powered by its groundbreaking Graphene platform.
Nick Tye, Founder and CEO of Carbon Underwriting, said
"Rupert's leadership since taking the helm as Chairman in Carbon's early stages, has been pivotal in accelerating our growth. His wisdom and steady hand helped shape us into a market leader in DUA business at Lloyd's. On behalf of the entire team, I want to express my heartfelt thanks and best wishes for his next chapter.
As we look to the future, we are delighted to welcome Paddy and Michael to our Board. Their combined entrepreneurial spirit, deep underwriting expertise, and proven track records in navigating and scaling complex businesses make them the perfect addition to our team. At Carbon, we've created a unique culture where cutting-edge technology like Graphene meets the warmth and ingenuity of our people, and Michael and Paddy are perfectly placed to help us harness this blend for the next phase of our journey."
Outgoing Carbon Non-Executive Chairman Rupert Atkin said
"Carbon is unique - a true innovator that thrives at the intersection of underwriting expertise and technology. What sets them apart is their collaborative spirit; the way they combine deep experence with forward-thinking solutions creates something far greater than the sum of its parts. It has been a privilege to provide strategic oversight and support during such a transformative period, and I am confident their culture will continue to drive them forward as a trailblazer in the delegated underwriting space."
Carbon Non-Executive Chairman Paddy Byrne added
"What drew me to Carbon is its exceptional team and its commitment to combining technical underwriting prowess with a compelling technology proposition that anticipates and responds directly to market needs. Carbon has an unparalleled opportunity to redefine how delegated underwriting is delivered, and I am thrilled to bring my experience to the table to help drive this vision forward."
Carbon Non-Executive Director Michael Watson commented
"Since its foundation, Carbon has enjoyed exceptional growth thanks to the team's energy, entrepreneurial ethos, and the transformational capabilities of its technology platform Graphene. I look forward to joining the Board and contributing to Carbon's continued success and profitable growth."
Notes to Editors
About Carbon Underwriting
Carbon Underwriting Limited (Carbon) operates as Syndicate CBN 4747 at Lloyd's.
Carbon set out in 2018 with a mission to transform the world of delegated underwriting and with a vision to set a global benchmark. We are a dynamic company and recognise the importance of embracing modern technology to deeply enrich our offering. We have pioneered a game-changing, bespoke approach using an open underwriting model where data drives improved underwriting performance creating superior analysis and fluidity of portfolio management. This is administered through our in-house technology ecosystem, Graphene. For more information, please visit: www.carbonuw.com/
PR Contacts:
Helen Wright
Lysander PR
helen@lysanderpr.com
07842 729 579
Joe Malone
Lysander PR
joe@lysanderpr.com
07988758779
