Carbon Underwriting appoints veteran Alex Poracchia as CFO

Carbon Underwriting, a specialist independent managing general underwriter (MGU) and Lloyd’s syndicate, has announced the appointment of Alex Poracchia as its new Chief Financial Officer (CFO), effective immediately.

In his new role, Poracchia will lead Carbon’s global financial operations and play a key role in strengthening the company’s capabilities as the business continues to evolve and elevate its position in the industry.

The executive has over 30 years of experience in financial leadership, having held positions at firms such as Swiss Re, Zurich, Everest Insurance, and Deloitte.

His extensive career has encompassed both established organisations and fast-growing businesses, providing him with a unique perspective to contribute significantly to Carbon’s next stage of development, the MGU stated.

Carbon’s blend of innovation, technology, and leadership has fuelled its rapid growth. In just five years, it became the first Lloyd’s Syndicate-In-a-Box to achieve full Lloyd’s Syndicate status.

Additionally, the firm noted, its flagship Syndicate 4747 is consistently seeing approval for some of the largest annual GWP stamp increases.

Carbon also aims to lead in the delegated authority sector, notably with its GenAI-powered data platform, Graphene, which revolutionizes data processing.

Nick Tye, Founder and CEO of Carbon, commented: “Our immensely talented team continues to grow, and we are thrilled to welcome Alex to the Carbon family at this crucial stage in our journey. His decision to join us speaks volumes about the exciting potential of our business and the strength of the culture we’ve built over the past five years.

“With Carbon’s entrepreneurial and technology-driven foundations firmly established, attracting leadership talent of Alex’s caliber underscores our commitment to scaling Carbon strategically while staying true to our authentic ethos. His extensive market experience will not only bolster our financial leadership but also guide us through the opportunities ahead as we prepare for the next level of success.”

On his appointment, Poracchia said: “As an actuary and finance professional, I have a deep passion for adopting smarter data-driven solutions overcoming inefficient practices that are challenging the industry – so, naturally, I’ve been following Carbon’s incredible journey.

“I have been impressed by the team’s warm, innovative, and unique culture – this is undoubtedly the key ingredient that has propelled the business’s achievements so far. I’m delighted to be joining Carbon and supporting its expansion not only in finance, but across the market.”

He concluded: “With such strong fundamentals in place, and blend of industry knowledge and experience, I’m confident we can navigate the dynamic opportunities ahead and further cement Carbon’s position as a leader in the industry – I’m inspired by what we can achieve.”

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