4th Mar 2014 10:27
LONDON (Alliance News) - Direct Line Insurance Group PLC Tuesday said it intends to restructure its executive team in order to support its strategic priorities, which will see it bring together its retail products and marketing and distribution activities in the UK into a single organisation.
The insurer said it has appointed Mike Holliday-Williams as UK personal lines managing director to lead the move, subject to regulatory approval.
He is set to join from RSA Insurance Group PLC, where he led the company's Scandinavian operations Codan A/S and Trygg-Hansa.
Current personal lines managing director Tom Woolgroove has decided to leave after four years with the company, according to Direct Line.
"Tom has played a key role in the wider industry on the group's behalf, both as president of the Chartered Insurance Institute and at the ABI. Tom will work to ensure a smooth transition, with Holliday-Williams expected to join in May 2014. After this, on an interim basis pending the appointment of a full time CEO, Tom will be supporting the creation of Flood Re, a critical initiative for both the insurance industry and the government," Direct Line said in a statement.
Following this restructuring, Darrell Evans, chief customer officer, will report into Holliday-Williams, and will remain a member of the Direct Line Group Executive Committee.
"The transformation of Direct Line Group is progressing well, and we aim to develop our pricing and distribution capabilities further to make the most of our market-leading franchise, rich customer data, and famous portfolio of brands," Paul Geddes, chief executive, said in a statement.
Direct Line shares were Tuesday quoted at 265.00 pence, up 1.4%.
By Samuel Agini; [email protected]; @samuelagini
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