Conduit Holdings, the ultimate parent company of Bermuda-based multi-line reinsurer Conduit Re, has appointed industry veterans Richard Lightowler, Peter Mullen and Penny Shaw as non-executive directors, effective March 26, 2026.
Lightowler and Shaw will serve on Conduit’s audit and compensation committees, while Mullen will serve on the company’s compensation committee.
Nicholas Shot, Chairman of Conduit Holdings, commented on the appointments: “On behalf of the Board, I am delighted to welcome Penny, Peter and Richard as Non-Executive Directors.
“They each bring outstanding insurance industry experience and proven judgment that will be invaluable as Conduit continues to build on recent progress to deliver sustainable and long-term value to shareholders. Their appointments underscore our commitment to the highest governance standards.”
Lightowler has more than thirty years of experience in the re/insurance industry, the last two of which he served as a partner at KPMG Audit Ltd. in Bermuda. At KPMG, he was group head of Bermuda insurance, a member of the firm’s global insurance leadership team and global lead partner of a major international insurance group listed in New York and London.
Currently, Lightowler serves as a non-executive director of Oakley Capital Investments Limited and Hansa Investment Company Limited. He has deep expertise in auditing, capital markets transactions, M&A due diligence, as well as regulatory, governance, risk management and operating model design.
Mullen is an industry veteran with more than four decades of experience in re/insurance and alternative risk management. He previously served as CEO of Artex Risk Solutions and Aon’s captive and insurance management businesses.
As a founding member of Artex Risk Solutions, Mullen was instrumental in the firm’s growth in the alternative risk and capital space. He has led complex insurance and alternative markets operations in more than 20 jurisdictions and has deep expertise in marketing, distribution, governance, enterprise risk management, M&A and operational transformation.
Mullen currently serves as a non-executive director of Artex Risk Solutions and a member of the executive committee of Gallagher Specialty.
Finally, Shaw is an experienced non-executive director and a qualified actuary with over thirty years of experience in the London market, US and international commercial re/insurance markets. Most recently, she served as Group Chief Risk Officer for Hanover Insurance Group and as Board Director and Chief Risk Officer of its then-subsidiary Chaucer Group.
Prior to this, Shaw served as Group Chief Risk Officer at Hiscox Group, Head of European Group Risk at Chubb and Co-Head of Capital at Chubb Group. She has extensive experience in actuarial, capital modeling and risk management disciplines as well as risk, underwriting, compliance, legal and regulatory engagements.
Currently, Shaw serves as a non-executive director of AIG UK Limited, Assured Guaranty UK Limited, Assured Guaranty (Europe) SA, Zurich Assurance Ltd and Catalina Worthing Insurance Limited (Chairman).
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