Bristol-based cyber insurance provider announces double promotion

Bristol-based Envelop Risk has made two promotions to expand its management team.

Graeme Bell has been appointed group chief operating officer, while Simon Welton will become the business’ new executive vice president of underwriting and strategic partnerships.

Bell will oversee Envelop Risk’s operations in his new role, working with the executive team to improve efficiency and support growth.

Meanwhile, Welton will collaborate with Envelop Underwriting chief executive Dom Peters to manage underwriting performance and lead product development with Envelop Labs.

He will also continue working with co-founder and group chief executive Jonathan Spry to support strategic partnerships and the recently launched Envelop Risk Solutions division.

Spry said: “I am thrilled to announce these thoroughly deserved and significant promotions, which further reinforce our leadership team.

“This recognises Bell and Welton’s growing importance to our business, with both possessing expertise essential to our partners in accepting cyber risks sustainably.”

Experience

Before joining Envelop Risk, Bell was a corporate M&A partner at several US and UK law firms, specialising in private equity and venture capital.

He joined Envelop Risk as a non-executive director in 2020 before transitioning to group chief legal officer in 2021, coinciding with the company’s $130m (£104.5m) series B funding round led by SoftBank.

Since 2023, he has served as interim chief operating officer. As well as taking up the role on a permanent basis, he will retain his position as chief legal officer.

Meanwhile, Welton, a reinsurance executive with over 30 years of experience, previously held the role of executive vice president of insurance at Envelop Risk.

He joined the company in 2022 after spending a decade at Swiss Re, where he served as market head for property and casualty in the UK and Ireland.