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.
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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.
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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.
A non-executive director of the asset management behemoth BlackRock, Mr Wilson also recently joined the board of Zilch, a payments business boasting more than 4m customers.
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Founded in 2011, Policy Expert was only sold by Primary Group to a subsidiary of ADIA in late 2023.
Policy Expert could not be reached for comment.
