Andy Baughan to become motor product director at RSA
Tesco Underwriting’s chief underwriting officer Andrew Baughan is to join RSA as motor product director.
Baughan has been chief underwriting officer of the joint venture since it was set up in 2010.
Tesco Underwriting is 50.1% owned by Ageas UK and 49.9% owned by Tesco Bank.
Baughan is expected to leave Tesco Underwriting in the next couple of months. A successor has not yet been named.
An Ageas spokeswoman told Insurance Times: “We can confirm that Andy Baughan will be leaving his post as chief underwriting officer for Tesco Underwriting to take up another role within the industry. We would like to thank Andy for his contribution to the business and the search for his replacement is already underway.”
RSA’s UK and western Europe underwriting director Neil Lightbown said: “We’re delighted to welcome Andy to RSA and in particular, to the underwriting executive team as he brings with him a wealth of knowledge and experience.
“His 20 years in the industry means he has a detailed understanding of the motor market and the challenges we face to deliver profitable growth in this price sensitive and highly competitive product area, so I look forward to working closely with him on our ambitious plans for this year and beyond.”
The Tesco Underwriting joint venture has been successful for its majority stakeholder since launch. It generated gross written premiums of £317.3m a profit before tax of £17.2m for Ageas in the first half of 2012.
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