Health and protection insurer The Exeter has announced the appointment of Michael Payne (pictured) as CFO.
Payne joined The Exeter as its commercial director in October last year and is taking over from John Gunn, who is retiring. Payne has more than 30 years of experience working in insurance, asset management and wealth management.
He is a qualified actuary and has held numerous senior positions during his career. At The Exeter, he will be responsible for finance, actuarial functions, and the newly formed insurance solutions team.
The announcement was made at the firm’s annual general meeting, where it also revealed a year-on-year growth in written premium income.
This comprised premiums from new policies sold over the year, as well as historical sales.
The Exeter’s health insurance division saw premiums rise to £21.3m in 2023, while life insurance increased 18% to £4.1m. Its income protection premiums also rose to £5.5m.
Over 2023, The Exeter gave £51,600 to charitable causes.
Isobel Langton, CEO of The Exeter, said: “Our AGM highlighted another strong year for The Exeter. We have continued to grow our membership numbers and new business volumes, continued to invest in our colleagues through training and development and supported a number of charitable causes at a time of continued cost-of-living and healthcare challenges in the UK.
“The results that we continue to deliver are a testament to the hard work and dedication of our colleagues, who continue to be our biggest asset.”
Langton added: “Our people drive The Exeter forward, and with this in mind, I would like to congratulate Michael on his appointment and look forward to working closely with him to achieve our future strategic goals.
“I would also like to take this opportunity to thank John Gunn for the contribution that he has made to the success of The Exeter since he joined in 2017. John has been a key member of our board and executive team and has been pivotal in delivering significant growth to The Exeter, helping to establish our position as one of the UK’s leading health and life insurance providers.
“John has dedicated his entire career to the life and health insurance industry and his support and commitment have been invaluable since I joined The Exeter at the start of 2021, and I wish him all the best for the future.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
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