After nearly one and a half years, personal lines insurer esure has finally found Stuart Vann’s official successor as chief executive.
As previously reported by Insurance Business, the hunt for esure’s next boss had been stalled amid the company’s £1.2 billion sale to Blue (BC) Bidco Limited. Following Vann’s shock departure, chief financial officer Darren Ogden stepped up to serve as interim CEO.
Now it’s been announced that the search is over, with Aviva alum David McMillan named as esure chief executive effective August pending regulatory approval. Currently the London-based recruit holds the position of group chief operating officer at QBE.
“I am delighted that David McMillan has agreed to lead esure,” commented esure founder and chairman Sir Peter Wood. “I’d like to thank Darren Ogden for heading the business during this interim period and he will be working closely alongside David to ensure a smooth transition.
“David has a strong track record of delivering digital transformation across the insurance market. Under David’s leadership, I am confident the business will deliver on its strategic ambitions.”
McMillan, who came onboard QBE in September 2017, spent nearly a decade at the management consulting arm of PricewaterhouseCoopers before joining Aviva in 2002. At the latter he held various senior roles including chief executive of UK general insurance and CEO Europe.
Commenting on his upcoming remit, McMillan said: “I am delighted to be given the opportunity to lead esure under Bain’s ownership. Esure has great potential and can be at the forefront of the digital disruption of the UK insurance market.
“These are exciting times and I am looking forward to working alongside the dedicated and ambitious team at esure to create a world-class business.”
The insurer’s new owner is a wholly owned subsidiary of funds managed by Bain Capital Private Equity (Europe) LLP.
“We are excited to partner with David to take esure to the next level,” stated Luca Bassi, a managing director of Bain Capital Europe. “Our plans for esure are very ambitious and we are convinced David is the right leader to deliver our aspirations with the support of the broader esure leadership team.”