Probitas confirms CEO and MD retirement amid post-acquisition realignment

Probitas, a Lloyd’s syndicate acquired by Aviva in 2024, has confirmed that CEO Ash Bathia and Managing Director Nick Bacon will retire from their roles on 31 July 2025.

Founded as a Lloyd’s platform with a focus on specialty insurance, Probitas has grown into a syndicate with approximately £400 million in gross written premium.

Since its establishment, Probitas has delivered consistent financial results, maintaining top-quartile performance over the past several years. The company has operated with a focus on disciplined underwriting and has developed a strong position within the Lloyd’s market.

Following their departure from operational leadership, Bathia and Bacon will continue to support the organisation in Executive Advisory roles.

Subject to regulatory approval, Matthew Washington, currently Managing Director for Global, Corporate & Specialty (GCS) at Aviva, will take on the role of CEO of Probitas alongside his existing responsibilities at Aviva. This transition aligns with Aviva’s ongoing integration and governance strategy across its specialty portfolio.

The leadership change marks a new phase for Probitas as it continues its alignment with Aviva’s broader objectives and operational structure.

Jason Storah, CEO of UK & Ireland General Insurance at Aviva, said: “Over the last decade, Ash has built an incredibly successful Lloyd’s franchise and paved the way for Aviva’s entry to the Lloyd’s market, through our acquisition of Probitas.

“His vision and commitment have been instrumental to the Probitas success, and his extensive experience and market connectivity will be invaluable as we continue to build out our London Market and Specialty operations. We extend our sincere thanks to Ash and Nick and wish them all the best in their retirements.”

Bathia added: “After 46 years in this amazing industry (who says insurance is boring!) the time has come for me to pass on the baton to the next generation.

“I am immensely proud of our people and what we have achieved together over the past 10 years. It has been a privilege to have been part of this incredible journey, and I have complete confidence that the team will continue to build on this legacy and carry our vision forward.”

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Probitas, a Lloyd’s syndicate acquired by Aviva in 2024, has confirmed that CEO Ash Bathia and Managing Director Nick Bacon will retire from their roles on 31 July 2025. Founded as a Lloyd’s platform with a focus on specialty insurance, Probitas has grown into a syndicate with approximately £400 million in gross written premium. Since…