Neon Announces Senior Management Promotions

London Friday 21 December, 2018

Neon Announces Senior Management Promotions

Neon Underwriting Limited (“NUL”), Neon’s Lloyd’s Managing Agency, today announces the promotions of Theo Butt to Chief Executive Officer and Matthew Washington to Managing Director with immediate effect, subject to Lloyd’s and PRA approval.

Theo joined Neon Holdings Limited (“Neon Holdings”) earlier this year as Group Underwriting Director and continues to report to Martin Reith, who remains as Group Chief Executive and a director of NUL. Prior to joining Neon, Theo was Head of Non-Marine at Ascot Underwriting and held a variety of roles at Marsh and JLT.

Matthew Washington becomes NUL’s Managing Director in addition to his role as Group Chief Operating Officer. Matthew joined Neon in 2015 after spending nearly a decade in a range of executive positions at Ascot Underwriting and CV Starr.

Matthew succeeds Ian Martin as Managing Director who, in a long-planned move, is stepping down from his executive role to join the Neon Holdings board in a non-executive capacity.

Deepon Sen Gupta, who also joined Neon in 2015, as Corporate Strategy Director, has been appointed to the broader role of Group Chief Strategy Officer and Caroline Andrew becomes Chief Administration Officer having previously served as Head of HR. Both Deepon and Caroline have joined the Neon Holdings board, reflecting the strategic priorities of the business.

Neon Group Chief Executive, Martin Reith said:

“The appointments announced today reflect both the achievements of the talented team within our Lloyd’s business and our determination to drive profitable growth.  I congratulate Theo, Matt, Deepon and Caroline whose new roles are well deserved and I would like to thank Ian Martin for his significant role in Neon’s transformation. His efforts have been crucial to our success to date and I welcome him to the Neon Holdings board where we will continue to benefit from his wisdom and experience. I am excited about Neon’s future and pleased to have a strong core group of leaders to execute our strategy.”





Haggie Partners  Tel: +44 (0) 20 7562 4444

Peter Rigby

Nick Ravenscroft





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