Helia Group has appointed Mark Senkevics as its new chief executive officer, concluding an extensive executive search with a hire from one of Australia's best-known insurance groups.
Senkevics, who currently leads the underwriting agencies division at Steadfast, will take up the role on or before 1 December 2026, as reported by insurance business.
He succeeds Michael Cant, who stepped in as interim CEO last year after serving as chief financial officer.
Cant will remain with the company during the transition period before retiring from full-time executive work. Meanwhile, Craig Ward, who has been serving as interim CFO, will formally assume the CFO role from 1 July 2026.
Industry veteran
The appointment brings more than 25 years of insurance experience to Helia.
Senkevics has held senior leadership positions across Australia, New Zealand and the wider Asia-Pacific region. His career has spanned underwriting, distribution, broker relationships and specialist insurance products.
Helia chair Leona Murphy said the company was gaining a leader with deep industry expertise and a strong understanding of the evolving insurance landscape.
"Mark brings more than 25 years of insurance industry experience including leadership positions across Australia, New Zealand and Asia-Pacific markets," Murphy said.
"He is well placed to lead Helia as it builds on its 60-year heritage of supporting Australians to buy, invest and upgrade their homes."
Helia is Australia's largest specialist provider of Lenders Mortgage Insurance (LMI), playing a key role in helping borrowers enter the housing market.
New challenge
For many brokers, Senkevics is already a familiar figure.
Since joining Steadfast in 2024, he has overseen the group's underwriting agencies business, working closely with brokers, insurers and distribution partners.
That experience is expected to prove valuable at Helia, where lender and intermediary relationships remain central to the company's mortgage insurance operations.
Senkevics said the opportunity comes at a significant moment for both the housing and lending sectors.
"Helia has built a strong reputation through the expertise and commitment of its people and I look forward to working with the talented Helia team, its customers and partners to build on the Company's vision to be Australia's most trusted risk partner for home lending," he said.
Succession questions
His departure also creates fresh succession questions at Steadfast.
The insurance giant is already preparing for a leadership transition, with long-serving CEO Robert Kelly expected to move to the board later this year.
Kelly co-founded Steadfast in 1996 and transformed it into the largest general insurance broker network and underwriting agency group across Australia and New Zealand.
Given Senkevics' senior role within the organisation, many industry observers viewed him as a potential future leadership contender.
His move to Helia therefore adds another layer to Steadfast's evolving succession plans.
Takeover speculation
The leadership change comes as Steadfast faces heightened market attention for another reason.
The company entered a trading halt on Wednesday pending an announcement relating to a potential control transaction.
The halt will remain in place until an announcement is made or trading resumes on 12 June.
Steadfast shares last traded at $3.95, valuing the company at approximately $4.39 billion.
According to reports by the Australian Financial Review, the company has received a takeover approach, with speculation centred on several global insurance broking heavyweights.
Potential suitors reportedly include Marsh McLennan, Arthur J. Gallagher and the UK's Ardonagh Group, all of which have been active acquirers in the Australian market.
Any deal involving Steadfast would be closely watched across the broking sector.
For brokers within the network, a transaction of that scale could influence everything from technology platforms and insurer relationships to market access and commercial arrangements.