A diagnosis of progressive Multiple Sclerosis has forced Nick Tye (pictured), CEO of Carbon Underwriting to make the decision to retire from the business he co-founded in 2018. One of his fellow co-founders and current chief underwriting officer Jacqui Ferrier has been appointed CEO. The third co-founder Ben Laidlaw will continue in his role as managing director.

Tye said: “Building Carbon has been the highlight of my career. From the very beginning we set out to create something genuinely different. It’s been a tremendous journey, and I am so proud of what we have accomplished. Carbon has always been defined by terrific people and excellent culture, and our team is extraordinary. I’m deeply grateful for the friends, colleagues, and partners who have supported us along the way.

“Stepping down was not an easy decision, but following my diagnosis of progressive MS, it’s the right one. I want to focus my time and energy on my health, and my family.”

Ferrier added: “Nick is an inspiring leader, colleague and friend, and his vision and values run deep through the DNA of Carbon… I want to thank Nick for everything he’s contributed to Carbon and the legacy he leaves. His impact will continue to shape our business for years to come.”