Credit and political risk insurance broker Texel Group has named William Shaw as its chief executive.

Shaw has been promoted from his current position of deputy chief executive at Texel and replaces Andy Lennard in the role. 

Texel said the move completes the plan for succession that Lennard “set in motion three years ago”. Lennard will remain executive chairman of Texel, as well as chairman of the independent broker’s philanthropic arm, Texel Foundation.

Shaw was promoted to deputy CEO in 2024, following a role as managing director for Texel Asia in Singapore. 

Before this, he set up the group’s Americas business in 2006, and was one of the broker’s first employees when it launched in the UK. He has been at Texel for more than two decades. 

Shaw said: “It is a privilege to take on the role of CEO of a company I have seen grow under Andy’s leadership and vision, from just four people when I joined in 2003 to a truly global business, driven by passionate, multifaceted colleagues with shared values and focused intent.”

Lennard founded Texel in 1997, and the broker now has offices in Brussels, London, New York and Singapore. 

In July 2025, Texel completed its transition to 100% employee ownership in a bid to preserve its long-term independence. 

Lennard said: “When we started the management transition three years ago, I said I would step down as CEO at the appropriate time. 

“It is fitting to step down as we approach a milestone date for Texel – the anniversary of when we became an employee ownership trust and a key point in our succession plan.” He added that Shaw is “a Texelian of great integrity and ability and encapsulates our reputation for delivering excellence”.