Hugo Wynn-Williams will step down as chairman of Thomas Miller Holdings in June 2021 and be replaced by current TT Club chief executive Charles Fenton.
However, Wynn-Williams, who first joined Thomas Miller in 1978, will continue to work for the UK insurance services company in the newly created role of president.
Although he will step down from the executive board, as president, he will continue to look after Thomas Miller’s European interests.
Fenton will also continue as TT Club chief executive while also acting as Thomas Miller chairman.
Wynn-Williams became a partner at Thomas Miller in 1989.
“Although I am stepping down from the board next year, I am honoured to become president of Thomas Miller Holdings and look forward to continuing to make a contribution to the company I have had the pleasure of seeing grow and thrive over the past 42 years,” he said.
Among its business interests, Thomas Miller manages a stable of marine insurance companies including the UK P&I Club, the TT Club, the UK Defence Club, UK War Risks and Hanseatic P&I.
Growth followed acquisitions
The company has shown considerable growth after a run of acquisitions in recent years. At a virtual annual general meeting held at the end of June, Thomas Miller reported revenue of £150m ($189m) — up from £145m — and annual profit before tax of £25m, compared to £19m in the previous year.
Thomas Miller chief executive Bruce Kesterton said: “Thomas Miller has achieved another year of exceptional results, which have put us in an enviable position of financial strength.”
He said the Covid-19 pandemic had not altered the company’s ambitions.
“In what are exceptional and challenging circumstances, we are able to look to the future with optimism," he said. "Our clients can be confident of continued excellent service as we maintain our long-term commitment to invest significantly in our infrastructure, people, culture and technology.”
