Helia Appoints Mark Senkevics as CEO of Australia’s Largest Mortgage Insurer
Helia appoints Mark Senkevics as CEO to lead lenders mortgage insurer Helia Group
Helia Group has appointed Mark Senkevics as Chief Executive Officer and Managing Director, effective on or before 1 December 2026, following an extensive executive search. Mr Senkevics brings more than 25 years of insurance industry leadership experience across Australia, New Zealand and Asia-Pacific markets.
The appointment follows a 12-month interim period during which Michael Cant served as Interim CEO from 1 July 2025. Mr Cant’s contract will be extended to allow an orderly transition and handover before he retires from full-time executive work. Simultaneously, Craig Ward has been appointed Chief Financial Officer from 1 July 2026 after serving as Interim CFO since July 2025.
The dual appointments fill both C-suite roles at the lenders mortgage insurance provider, establishing permanent leadership continuity after the interim arrangements put in place in mid-2025.
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Senkevics brings two decades of reinsurance and underwriting leadership
Mr Senkevics most recently held the position of EGM Underwriting and CEO Underwriting Agencies at Steadfast Group, where he has served since 2024. Prior to this, he spent 20 years at Swiss Re Group between 2003 and 2023, progressing through senior leadership positions across multiple markets.
His tenure at Swiss Re included serving as Managing Director and Head of P&C Underwriting for the Asia-Pacific region from 2020 to 2023. Before that, he was Managing Director and Head of Australia and New Zealand for 10 years (2010-2020), and held leadership roles in Australia, Taiwan and Korea earlier in his career.
His governance experience includes serving as a Non-Executive Director at the Insurance Council of Australia for 8 years (2012-2020) and as a Life Board Committee Member at the Financial Services Council (2010-2020). He also served as a Steering Committee Member for the Australian Sustainable Finance Initiative from 2019 to 2021.
Mr Senkevics holds a Bachelor of Engineering (Electrical) from the University of Sydney and is a Graduate of the Australian Institute of Company Directors (GAICD). His two decades of regional APAC leadership at a global reinsurer positions him to navigate Helia’s wholesale relationships and risk management frameworks in the Australian lending market.
What lenders mortgage insurance means for Australian homebuyers
Lenders mortgage insurance (LMI) is insurance that protects lending institutions when borrowers have deposits below 20% of a property’s value. This insurance enables home purchases with smaller upfront savings by reducing the lender’s risk exposure.
Helia operates in a dual customer dynamic. Its direct customers are lenders — banks and non-bank financial institutions — but the product enables borrower access to home loans who would otherwise need to save larger deposits. The company has a 60-year heritage supporting Australians to buy, invest and upgrade homes.
Understanding the LMI business model clarifies why housing market activity and lending volumes directly impact Helia’s revenue outlook. When property transactions increase and borrowers with smaller deposits enter the market, LMI demand typically rises.
Remuneration structure aligns CEO incentives with shareholder returns
Mr Senkevics will receive Total Fixed Remuneration (TFR) of $900,000 per annum including superannuation. His variable remuneration comprises Short Term Incentive and Long Term Incentive components with substantial equity weighting.
The STI structure targets 80% of TFR with a maximum of 160% of TFR, determined by the Board based on organisational performance and evaluation against business and individual goals. 50% of any STI award is delivered as cash, with the remaining 50% deferred as restricted shares vesting in two equal tranches over 12 and 24 months.
The LTI component has a maximum value of 100% of TFR ($900,000) delivered as share rights, subject to shareholder approval at the Company’s Annual General Meeting. Vesting is determined by company performance against LTI objectives measured over a 4-year performance period.
| Component | Target/Maximum | Delivery | Performance Period |
|---|---|---|---|
| TFR | $900,000 | Cash + Super | Ongoing |
| STI | 80-160% TFR | 50% Cash / 50% Deferred Shares | Annual |
| LTI | 100% TFR | Share Rights | 4 Years |
In recognition of forfeited incentives from his former employer, the Company will provide replacement awards. This comprises up to $270,000 in cash, $180,000 in restricted shares vesting in March 2028, and $600,000 in share rights subject to shareholder approval at the 2027 AGM.
The remuneration package includes a minimum shareholding requirement of 200% of TFR (equivalent to $1,800,000) within 5 years of appointment. The heavy equity weighting with 4-year LTI vesting and minimum shareholding requirements creates structural alignment with long-term shareholder outcomes.
Board signals confidence in strategic direction
Chair Leona Murphy welcomed the appointment and acknowledged the contribution of outgoing Interim CEO Michael Cant.
Leona Murphy, Chair
“Mark brings more than 25 years of insurance industry experience including leadership positions across Australia, New Zealand and Asia-Pacific markets. 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. On behalf of the Board, I want to pass on our thanks to Mr Cant for his service as Interim CEO since 1 July 2025 and prior to that as Chief Financial Officer. Michael has been an outstanding leader for the organisation. His dedication, expertise and professionalism have left an invaluable impact, and we wish him the best as he moves into the next phase of his career.”
Mr Senkevics provided a forward-looking statement on the opportunity ahead.
Mark Senkevics, Incoming CEO
“I’m excited to be joining Helia at a pivotal time for the Australian home ownership and lending landscape. 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.”
Management commentary referencing a “pivotal time for the Australian home ownership and lending landscape” signals awareness of macro conditions influencing LMI demand, including housing affordability pressures and regulatory settings affecting deposit requirements.
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Timeline and transition details
Key dates for the leadership transition include:
- Craig Ward CFO appointment: 1 July 2026
- Mark Senkevics CEO start: on or before 1 December 2026
- Michael Cant contract extension: allows orderly transition and handover before retirement from full-time executive work
- Replacement share rights: subject to shareholder approval at 2027 AGM
The employment contract includes a 6-month notice period required from either party, except for immediate termination by Helia for serious misconduct or material breach. If Helia terminates Mr Senkevics’ employment for any reason other than for cause, a termination payment of 6 months’ TFR applies, subject to Corporations Act limits.
12-month non-compete and non-solicitation provisions apply following employment cessation. The staggered transition with CFO already in place from 1 July and an extended handover period reduces execution risk during the leadership change at Australia’s largest lenders mortgage insurer.
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