Coverage Skilled, the house, motor and pet insurer to 1.5m UK prospects, is to underscore its development ambitions by naming the previous Aviva chief Mark Wilson as its new chairman.
An announcement about his appointment is anticipated imminently, in accordance with business sources.
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Coverage Skilled describes itself as one of many UK’s main private strains insurers, and is anticipated to make use of the current stake sale to Cinven as a platform to spearhead a brand new spherical of business consolidation, in accordance with bankers.
Cinven has an intensive observe file within the insurance coverage sector and in taking a ‘buy-and-build’ strategy to companies extra broadly.
It now has greater than 1.5m policyholders throughout its totally different insurance coverage product strains.
Mr Wilson, who additionally ran the Asian insurer AIA, will work intently with Coverage Skilled’s chief govt, Steve Hardy, when he takes up the place subsequent month.
A non-executive director of the asset administration behemoth BlackRock, Mr Wilson additionally lately joined the board of Zilch, a funds enterprise boasting greater than 4m prospects.
Based in 2011, Coverage Skilled was solely offered by Main Group to a subsidiary of ADIA in late 2023.
Coverage Skilled couldn’t be reached for remark.
