Exclusive: Conduit Re recruits Randolph as CRO after Smith exits

By Rebecca Delaney, Scott Vincent

June 25 - (The Insurer) - Conduit Re’s leadership changes have continued with William Randolph set to join as chief risk officer to replace Andrew Smith, according to reinsurance market sources.

Randolph was previously chief risk officer at Validus Re before joining Relm earlier this year.

Smith, who also served as the reinsurer’s chief sustainability officer, was part of the Conduit Re launch team in 2020. He confirmed his departure from the company on his LinkedIn page, which states that he left in May 2025.

His departure follows the recent exits of founding CEO Trevor Carvey and chief underwriting officer Gregory Roberts. Neil Eckert, previously executive chairman, has now assumed the position of CEO.

Those exits came after the Bermuda-headquartered company disclosed a preliminary loss estimate of between $100 million and $140 million in relation to the Los Angeles wildfires in January.

Conduit Re responded by buying additional reinsurance to protect it from further earnings volatility through the current financial year, particularly in relation to secondary perils.

The cost of that additional cover would reduce the company’s forecast return on equity for the year to between high single digits and low double digits, it said in a statement.

During his tenure with Conduit Re, Smith was a member of the Reinsurance Association of America's Council of Reinsurers and Brokers and was an active member of various committees at the Association of Bermuda Insurers and Reinsurers. He also served on the ClimateWise management committee.

Conduit Re declined to comment. Relm and Randolph did not immediately respond to requests for comment from The Insurer.