Conduit Re CFO Elaine Whelan to retire amid board reshuffle

Conduit Re CFO Elaine Whelan is set to retire after more than five years with the reinsurer, remaining in her role until September 30 as the company begins the search for her successor.

The CFO is the latest Conduit Re board member to be exiting after what has been a turbulent time in the boardroom. 

This time last year, chief underwriting officer Gregory Roberts stepped down to be replaced by Nick Pritchard, shortly after former CEO Trevor Carvey also exited. Carvey was, in turn, replaced by Neil Eckert. The sudden departures of the CUO and CEO were largely attributed to personal reasons and heavy losses from the California wildfires, respectively.  

Then, in August 2025, it was announced that Roberts’s replacement, interim CUO Nick Pritchard, would also be leaving to be replaced by Stephen Postlewhite. 

This February, Rebecca Shelley stepped down as interim chair to be replaced by Nicholas Shott. 

However, last month Conduit Re has also made a clutch of “industry heavyweight” non-executive appointments. Richard Lightowler, Peter Mullen, and Penny Shaw all joined the board, bringing more than a century of experience between them. The non-executive appointments were seen as satisfying shifting regulatory expectations in Bermuda. This includes new Bermuda Monetary Authority (BMA) requirements regarding data policy and risk management.

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