By Scott Vincent
April 24 - (The Insurer) - Probitas founder and CEO Ash Bathia and managing director Nick Bacon are to step down from their roles on July 31, the company said on Thursday.
Probitas, which was acquired by Aviva in 2024, said Bathia and Bacon will be retiring from their daily operational responsibilities but will remain with the business in an executive advisory capacity.
Former QBE executive Bathia launched Probitas, which operates through Syndicate 1492, in 2015.
The syndicate has consistently been among the top performers at Lloyd’s. The syndicate reported a net combined operating ratio of 77.9% for 2024 – its fourth consecutive sub-80% result.
Aviva announced in March 2024 that it was to acquire Probitas, with the deal completing on July 11. The deal included Probitas Managing Agency, which is the managing agent of Syndicate 1492, along with the corporate member Probitas Corporate Capital Limited and all other subsidiaries.
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