Helios names Chambers interim executive chairman with Wade to step down

By Michael Jones

Feb 10 - (The Insurer) - Helios Underwriting has announced that executive chairman Michael Wade is to step down from his role with John Chambers to take up the position in the interim.

The listed Lloyd’s investment vehicle said that Wade had decided to step down at the end of February to focus on developing his non-executive portfolio.

Wade, who has over four decades of Lloyd’s market experience, joined Helios as non-executive chairman in June 2023.

As chairman, he oversaw the restructuring of the group’s portfolio, which included a material reduction of the company’s underwriting risk, gearing and overall cost base in 2025.

Helios said that these strategic priorities would remain unchanged under Chambers.

Chambers, who was previously director of underwriting at Aegis London, joined the Helios board as a non-executive director in July 2024.

He spent almost 20 years at Aegis London, with other roles including director of innovation and corporate development. He has also served as a non-executive director at TT Club Mutual.

On his exit, 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 John and the board all the best for the future."

Wade’s departure as chairman comes less than a year after former CEO Martin Reith stepped down from his position.

Wade was elevated to the executive chairman position following Reith’s exit, while Nigel Hanbury became non-executive deputy chairman.