Michael Wade

Michael Wade

Michael Wade, Chairman, Besso Insurance Group

Michael has over 30 years’ experience at Lloyd’s and an extensive PLC background.

He founded and managed the Holman Wade Lloyd’s broking group from 1980 to 1993.

In 1986 he became a Director of Horace Clarkson plc which was listed on the London Stock Exchange.

In 1993 he founded Corporate Lloyd’s Membership Ltd which became CLM Insurance Fund plc and was CEO of this Listed group.

CLM created Corporate Members, Managing Agencies and Syndicates at Lloyd’s until its successful sale in 1999.

Michael then formed Rostrum Group Ltd, an FSA regulated investment management group focused upon the reinsurance markets, from 2000 to 2005 acting for significant institutional investors including the pension funds of BT, the Post Office, British Gas & British Airways.

These funds were returned to their owners profitably at the conclusion of the five year contract.

In 2005 he was invited to join Bowood Holdings Lloyd’s broking group as Non-Executive Chairman to assist the Company review its strategy and achieve shareholder exit. This was delivered in September 2008 with its sale to the R K Harrison Group.

He became a partner in Paterson Martin in 2006 and negotiated the reorganization of the Company to become Optex Group and was appointed its Chairman.

In 2011 he became chairman of Besso Insurance Group and Optex Group became integrated within the Group to spearhead reinsurance development in Insurance Linked Securities.

Michael has served on the Council and Committee of Lloyd’s and served on the 1991 key Lloyd’s Taskforce with McKinsey & Co which recommended the formation of Equitas and introduction of corporate capital to Lloyd’s.

More recently he has served on the Economic Competitiveness Policy Group of the Conservative Party.

Michael founded the Lloyd’s Community Programme (a charitable initiative) in 1989, which he chaired for five years, and is also a Treasurer of the Conservative Party

He is authorised with the Financial Services Authority for a range of functions including Chairman,  Chief Executive, Investment Fund Manager and Director.

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