Read extra: Brit CEO takes go away of absence, interim CEO introduced
The information comes virtually two months after Wilson returned to Brit as CEO in September 2022 after a go away 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 together with his household.
Wilson first joined Brit in 1999, changing into group CEO in 2018 and is credited as having been pivotal in creating its inclusive, revolutionary 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 go away 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 determination to step down as CEO, Wilson stated that in his 23 years at Brit, this is without doubt one of the hardest choices he has ever needed to make.
“No one was more determined than I was to continue as CEO, but it is with huge regret that I have chosen to step down so that I can focus on my family and my health,” he stated. “Brit is a truly special company, but what makes it so special are its amazing people. I will miss every one of them.”
Wilson stated it’s Brit’s group that offers him nice confidence in his future and that he’s positive its tradition will be certain that the corporate continues to paved the way “in both who we are 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 position in driving Brit’s fame for being forward-thinking and inclusive and stated he leaves a “lasting legacy of success” throughout the entire group.
“He will always be a friend to Brit,” he stated, “and I am pleased that we will benefit from his insight as an executive advisory director for Fairfax.”
Watsa added: “Martin is an outstanding insurance leader and demonstrated this when asked by Matthew to step in as interim CEO at such short notice last year, ensuring stability and enabling Brit to maintain its focus. He knows the business, its people and its culture extremely well and this, alongside his leadership skills, means we can deliver both a smooth succession and the right CEO to take Brit forward.”
Thompson additionally commented on the information and stated: “It is an honor to succeed Matthew as CEO. Having spent a year experiencing Brit’s culture and getting to know its talented people, I know what a unique business this is. Matthew’s departure is a sad moment for Brit, but he leaves a business that is in great shape; I am excited about our potential and how much more we have to achieve.”