New appointee says he is ’honoured by the trust the board of directors has placed in me’

Adrian Furness has stepped down from his role as the UK chief executive of Covéa Insurance.

Furness joined the insurer in 1995 before becoming its top boss in July 2021.

Covéa confirmed he was leaving the business in a statement released last week (16 June 2023).

“We would like to thank him for his continued commitment and contribution to the business,” the insurer added.

He has been replaced by Georges de Macedo, who was appointed with immediate effect.

The new appointee brings over 15 years of insurance experience to the role.

Positions he has held include IFRS 17 program director and group chief accounting officer at (re)insurer SCOR and most recently was an administrator at Covéa Insurance in France.

“I am delighted to take the lead of Covéa activities in the UK and honoured by the trust the board of directors has placed in me,” said De Macedo.

“The executive committee and I are determined to accelerate the transformation of Covéa Insurance and to seize new opportunities in both personal and commercial insurance markets.

“The DNA of Covéa Insurance is to serve our clients and I firmly believe that we are well-positioned to meet the demands of all stakeholders, thanks to our high quality service and extensive talent pool.

“In addition, the company benefits from the financial strength of the Covéa Group.”

Additional changes

Meanwhile, Thierry Francq will hand over chairmanship of Covéa’s board to Chris Moat as of 1 July 2023, who has served as an independent non-executive director for Covéa since March 2021.

Francq will remain as a member of Covéa’s board of directors.

Moat, who congratulated De Macedo on his new role, said: ”Against a challenging macroeconomic environment, the company is focused on delivering an ambitious transformation agenda.

“I look forward to taking up the position of chair from Thierry and to working with the new executive team and my board colleagues in the delivery and development of this agenda, which will build on the company’s strengths.”

Speaking about the change in chief executive, Francq added: “On behalf of the board, I warmly thank Adrian for his commitment and dedication to Covéa. We wish him all the very best for the future.

“The board of directors and our shareholders are confident that Georges has all the qualities necessary to guide the company going forward and build on its strengths. We wish him every success.”