Envelop Risk announces two senior promotions

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announced it has promoted Graeme Bell to group chief operating officer and Simon Welton to the role of EVP – underwriting performance and strategic partnerships.

Bell joined as a non-executive director in 2020, moving to an executive position as group chief legal officer in 2021 at the same time as Envelop’s $130m Series B fundraise from SoftBank. Alongside that he has served as interim COO since 2023 and is also a director of both Envelop’s US broker, DataStream Cyber Insurance and its Bermuda Class 3A reinsurer, Augmented Re. Prior to joining Envelop Risk he was a corporate M&A partner in several US and UK law firms specializing in private equity and venture capital. He retains his position as chief legal officer and, as COO, oversees Envelop’s operations, working closely with the rest of the executive team to drive operational efficiency and support Envelop’s growth aspirations.

Welton, a seasoned reinsurance executive with more than 30 years of experience, was previously EVP – insurance at Envelop. He joined in 2022 after a decade at Swiss Re, where he served as market head P&C UK and Ireland. In his new role, Welton will work closely with Envelop Underwriting CEO Dom Peters, focussing on underwriting performance management, and will spearhead underwriting product development in conjunction with Envelop Labs. He will also continue to work with co-founder and group CEO Jonathan Spry, to support Envelop’s strategic partnerships and its recently launched Envelop Risk Solutions business.

“I am thrilled to announce these thoroughly deserved and significant promotions, which further reinforce our leadership team. This recognises Graeme and Simon’s growing importance to our business, with both possessing expertise essential to our partners in accepting cyber risks sustainably. This is a very exciting time for the cyber market – with signs that some cyber protection gaps are beginning to narrow – and these appointments will enhance our support to partners, strengthening their ability to close these gaps even further.” – Jonathan Spry, Co-founder and CEO.