Read extra: Brit CEO takes depart of absence, interim CEO introduced
The information comes nearly two months after Wilson returned to Brit as CEO in September 2022 after a depart of absence to bear therapy for a uncommon type of blood most cancers. In a Press launch, Brit famous that by stepping down as chief government, he’ll be capable to prioritize his well being and spend extra time along with his household.
Wilson first joined Brit in 1999, turning into group CEO in 2018 and is credited as having been pivotal in creating its inclusive, progressive and underwriting-centric tradition – which culminated within the formation of the primary algorithmically underwritten syndicate in Lloyd’s, Ki. As a passionate advocate of Lloyd’s, he additionally served on the board of the LMA from 2011 to 2022.
Thompson, who was appointed interim group CEO throughout Wilson’s depart of absence, takes the reins as soon as extra as a extremely skilled chief within the insurance coverage sector who beforehand served as president & CEO of RSA Canada earlier than becoming a member of the Fairfax Group in 2021.
Commenting on his choice to step down as CEO, Wilson mentioned that in his 23 years at Brit, this is likely one of the hardest choices he has ever needed to make.
“No one was extra decided than I used to be to proceed as CEO, however it’s with enormous remorse that I’ve chosen to step down in order that I can concentrate on my household and my well being,” he mentioned. “Brit is a really particular firm, however what makes it so particular are its superb folks. I’ll miss each certainly one of them.”
Wilson mentioned it’s Brit’s crew that offers him nice confidence in his future and that he’s positive its tradition will be sure that the corporate continues to prepared the ground “in each who we’re and what we do.” He added that he’s happy to stay inside the Fairfax Group and that whereas he’s stepping away from Brit, he’ll stay the corporate’s biggest champion.
Prem Watsa, chairman and CEO of Fairfax Financial Holdings, cited Wilson’s function in driving Brit’s status for being forward-thinking and inclusive and mentioned he leaves a “lasting legacy of success” throughout the entire group.
“He will all the time be a pal to Brit,” he mentioned, “and I’m happy that we’ll profit from his perception as an government advisory director for Fairfax.”
Watsa added: “Martin is an excellent insurance coverage chief and demonstrated this when requested by Matthew to step in as interim CEO at such quick discover final 12 months, guaranteeing stability and enabling Brit to take care of its focus. He is aware of the enterprise, its folks and its tradition extraordinarily nicely and this, alongside his management expertise, means we will ship each a clean succession and the precise CEO to take Brit ahead.”
Thompson additionally commented on the information and mentioned: “It is an honor to succeed Matthew as CEO. Having spent a 12 months experiencing Brit’s tradition and attending to know its proficient folks, I do know what a novel enterprise that is. Matthew’s departure is a tragic second for Brit, however he leaves a enterprise that’s in nice form; I’m enthusiastic about our potential and the way way more we have now to attain.”