Helia has appointed a new CEO as the company confronts weaker premiums, lost bank clients, and an eroding LMI market.
Helia, one of Australia’s largest specialist lenders mortgage insurance providers, has named insurance veteran Mark Senkevics as its next CEO and managing director.
The board announced on Wednesday (10 June) that Senkevics would formally take charge on or before 1 December 2026, following what it described as an “extensive executive search”.
Most recently, Senkevics served as CEO – underwriting agencies at Steadfast Group Limited, the region’s largest general insurance broker network and underwriting agency business.
Before that, he spent two decades with global reinsurer Swiss Re, holding senior posts such as managing director and head of property, head of Australia and New Zealand, and head of the Korea branch.
He will succeed Michael Cant, who stepped into the role of interim CEO on 1 July 2025 after previously serving as Helia’s chief financial officer.
Cant’s initial 12‑month contract will be extended, so he can remain at the helm during an “orderly transition and handover”, before retiring from full‑time executive work and shifting his focus to non‑executive positions.
Craig Ward, who has been acting as interim CFO since July last year, will be confirmed in the role on 1 July 2026.
Board backs experience as Helia repositions
In unveiling the appointment, Helia chair Leona Murphy made it clear that the board viewed Senkevics’ international track record as a key asset.
“Mark brings more than 25 years of insurance industry experience including leadership positions across Australia, New Zealand and Asia-Pacific markets,” she 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.”
Murphy also used the announcement to underline the contributions made by Cant during his time as interim CEO.
“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,” Murphy said.
“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.”
Senkevics framed his move as a chance to lead a specialist player through a period of structural change in home lending and housing policy.
“I’m excited to be joining Helia at a pivotal time for the Australian home ownership and lending landscape,” he said.
“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.”
Earnings slide and market shifts raise the stakes
The leadership refresh comes as Helia’s financials and operating environment grow more challenging.
In its most recent first‑quarter update, the group reported gross written premiums of $51 million, a fall of 32 per cent compared with the same period a year earlier, while insurance revenue dropped by 9 per cent to $84.3 million.
On the customer side, Helia has had to digest the loss of key contracts after the Commonwealth Bank of Australia (CBA), its long‑time client, decided in March 2025 to switch its LMI business to Arch Lenders Mortgage Indemnity.
Soon after, ING Bank, Australia’s sixth‑largest home lender, moved to negotiate with another provider.
At the same time, the group launched a “comprehensive business review” aimed at reshaping its strategy.
Meanwhile, the federal government’s 5 per cent Deposit Scheme is eroding demand for LMI across a growing slice of the first home buyer market.
The program, which allows eligible borrowers to purchase with a 5 per cent deposit while avoiding LMI, has gained significant traction since an October 2025 expansion that removed income thresholds, lifted property price caps, and scrapped annual quotas.
[Related: Helia launches enhanced deposit estimator tool]
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