Butt becomes Neon Underwriting CEO

Lloyd’s managing agency Neon Underwriting (NUL) has promoted Theo Butt to CEO and Matthew Washington to managing director with immediate effect.

Butt joined Neon Holdings earlier in 2018 as group underwriting director and continues to report to Martin Reith, who remains as group CEO and a director of NUL. Prior to joining Neon, Butt was head of non-marine at Ascot Underwriting and held a variety of roles at Marsh and JLT.

Washington becomes NUL’s managing director in addition to his role as group chief operating officer. He joined Neon in 2015 after spending nearly a decade in a range of executive positions at Ascot Underwriting and CV Starr.

Washington succeeds Ian Martin as managing director who 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 human resources. Both Sen Gupta and Andrew have joined the Neon Holdings’ board.