Market moves: Making an entrance

A certain former banking boss’ entrance into the world of insurance was undoubtedly the big move of last month. Stephen Hester, who made his name as the man charged with turning around ailing RBS Group, was appointed group chief executive of RSA. Other insurer moves of note during a busy month included the return of ex-Groupama chief Laurent Matras, as MD of Axa’s personal lines intermediary division, and an underwriting triple hire by Covéa Insurance. Brokers also looked to dominate their fair share of column inches with several appointments taking on a decidedly sporty nature. New broker on the beat Adelphi Special Risks named former England Rugby World Cup winner Neil Back as a director while Thomas Carroll Group unveiled former Kent cricketer Mike Powell as part of its new sales development team.

There is no other place to start this month’s rundown than with RSA naming Stephen Hester as its new group chief executive. 

Hester – who is set to receive an annual salary of £950,000 excluding performance bonuses – replaced Simon Lee, who resigned in December 2013. Hester came to public prominence as the man charged by the UK government with turning around RBS Group, which was on its knees following the credit crunch. 

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