Former Aviva chief Wilson to chair UK insurer Policy Expert
Former Aviva chief Wilson to chair UK insurer Policy Expert
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Policy Expert, the home, motor and pet insurer to 1.5m UK customers, is to underscore its growth ambitions by naming the former Aviva chief Mark Wilson as its new chairman. Sky News has learnt that Mr Wilson, who also ran the Asian insurance company AIA, will become chairman of the company months after the buyout firm Cinven acquired a 50% stake in it from a subsidiary of the Abu Dhabi Investment Authority (ADIA).
An announcement about his appointment is expected imminently, according to industry sources. Money latest: Barclays takes fresh aim at WFH. Policy Expert describes itself as one of the UK's leading personal lines insurers, and is expected to use the recent stake sale to Cinven as a platform to spearhead a new round of industry consolidation, according to bankers.
Cinven has an extensive track record in the insurance sector and in taking a 'buy-and-build' approach to businesses more broadly. It now has more than 1.5m policyholders across its different insurance product lines. Plans to drill Rosebank and Jackdaw oil and gas fields obstructed in court.
Water bills in England and Wales to rise by average of £10 per month. Money blog: Barclays sends WFH memo to 85,000 staff - as 'new normal' increasingly starts to resemble the old one. Mr Wilson, who also ran the Asian insurer AIA, will work closely with Policy Expert's chief executive, Steve Hardy, when he takes up the position next month.
