Ageas UK in significant restructure


François-Xavier Boisseau retiring from the business.

Ageas UK is moving to a centralised functional structure working across its three core channels of broker, partnerships and direct to customer, Insurance Age can reveal.

The insurer stated that the changes were designed to simplify the business.

As of 1 January 2019, the senior team will be made up of certain existing senior management with several new roles also being created.

Ageas confirmed that the development coincided with the retirement of François-Xavier Boisseau, CEO of Insurance.

He joined Ageas with the takeover of Groupama Insurances where he had been managing director from 2003 to 2007 and subsequently CEO.

The changes also include Ant Middle becoming chief customer officer responsible for the distribution relationships and end-to-end customer experience across all three channels.

He had joined Ageas in 2014 becoming CEO of direct and partnerships in April 2015. Chris Dobson also remains as broker distribution director reporting in to Middle.

Adam Clarke will become chief underwriting officer responsible for underwriting, pricing and reinsurance.

Robin Challand, Lyn Nicholls and Mark Collins will remain in their respective roles as claims director, human resources director and chief information officer.

Ageas also highlighted that it had already started recruiting for a new chief financial officer after the previously announced departure of Fernley Dyson to Allianz.

And that it had now opened the recruitment process for a new position of chief risk officer.

There were also exits as part of the shake-up.

The senior departures include: Matthew Thomas (director, business transformation), Niraj Shah (underwriting director) and Andrew Brown (communications and public affairs director) who will all leave at the end of the year.

In its most recent set of results the provider delivered an improved combined operating ratio of 99% for the first half of 2018 (H1 2017: 105.7%).

Net profit also improved to €31m (£27.8m) from €11m in the same period of 2017.

However, gross written premium fell 8% to £601.5m.

Commenting on the new structure, Andy Watson, CEO Ageas UK said: “These changes are a natural evolution to a centrally organised functional structure, with all roles within the senior team now having a pan-Ageas UK remit.

“With clear accountabilities, they will be instrumental in ensuring we continue to simplify the way we work, maintain our commitment to be a leading player in the broker channel and grow our direct channel; all of which helps us live up to our purpose of making life easy for our customers.”

On the departure of Boisseau he added: “I am very grateful to Francois-Xavier who has been with us since our acquisition of Groupama Insurance.

“His long experience of the UK market has been valuable in leading our strategy in the broker channel and I wish him well in his future non-executive roles.”

Concluding: “I am also grateful to Matthew, Andrew and Niraj, who have made significant contributions to the success of the business and have been supportive of the changes being made.”

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