Neon Underwriting Ltd., a managing agent for Lloyd's of London Syndicate 2468, promoted Theo Butt to CEO and Matthew Washington to managing director, effective Dec. 21.

The appointments are subject to Lloyd's and Prudential Regulation Authority approval.

Butt joined Neon Holdings Ltd. in early 2018 as group underwriting director.

Washington joined Neon Underwriting in 2015 and continue to serve as group COO. As managing director, he will succeed Ian Martin, who is stepping down from his executive role to join the Neon Holdings board in a nonexecutive capacity.

The company also named Deepon Gupta, corporate strategy director, as group chief strategy officer and Caroline Andrew as chief administration officer. She was previously head of the human resources department. Both also joined Neon Holdings' board.