Groupama managing director Tim Ablett is to quit the insurer on 17 April to become chief executive of the newly formed company, Oxfordway.
The news comes after Royal & SunAlliance revealed this morning that it has sold its UK healthcare and assistance business to Oxfordway. Groupama is expected to announce a replacement for Ablett later today.
Chairman and CEO at Groupama Insurances Pierre Lefèvre, said: "We will obviously be sorry to say goodbye to Tim, as he has been an integral part of the development of our business in the UK. However, we do understand that this new business presents a special opportunity for him.
"Our relationship with Tim remains extremely close and naturally we wish him every success with this new venture."
