He has been with the firm since 2013
Covéa Insurance announced today that its commercial lines and high net worth (HNW) director will be leaving the firm in 2019.
His decision to depart rests on his “desire to change the pace of his working life, creating time for him to different things.”
Cooter was seen as a key figure at the firm having joined in early 2013 and also playing a “critical role” in leading the development and growth of its Commercial & HNW business and contributing as on the executive committee and board.
He explained: “Leaving Covéa has been a really tough decision.
“It’s a great business with great people and I think that together we have built a fantastic reputation for delivering fantastic service and being a company that our partners love doing business with.
“If I had wanted to carry on running a commercial lines & HNW business it would be here, but I have always had an idea that I wanted to change pace when I reached 55 (which I do in January, sadly!) and that is exactly what I am going to do. I hope to find different things to do that will mean working significantly fewer days than I do currently.”
The firm’s chief executive, James Reader, said: “We will be very sorry to see him go but he and I are equally keen to ensure a smooth transition for our people and customers and, with that in mind, we have agreed not to set a specific date for his departure at this stage, other than to confirm that it will be at some point in 2019.
“This will give us the time to make sure that we identify the right person to take over from Simon, and to manage an effective handover of his responsibilities. Until then, I’m pleased to say that it will be very much business as usual and I know that Simon remains as committed to the success of Covéa Insurance and to delivering to our Commercial & HNW partners and customers as ever.”
He added that Cooter has been an important member of the Covéa Insurance team and the commercial lines and HNW business has grown into a £270m GWP operation under his leadership.
Cooter added: “It’s exciting and scary at the same time! Whatever I do next I will watch the next stages of the Covéa journey closely and I’ll be wishing you all the continued success that you deserve.”
At the beginning of the month, Aviva’s chief executive Mark Wilson left suddenly, the firm said its aims under his leadership had been achieved.
Covéa is a French mutual insurer, last month reaffirmed its commitment to the UK with its sale of Swinton to Ardonagh.
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