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Tesco Underwriting appoints interim CEO

Tesco Underwriting appoints interim CEO | Insurance Business UK

Tesco Underwriting appoints interim CEO

Tesco Bank has today announced the appointment of Gary Duggan to the roles of interim chief executive officer, Tesco Underwriting, and interim chief insurance officer, Tesco Bank, subject to regulatory approval.

Duggan (pictured) has spent his career to date in banking and insurance and is currently a senior adviser at Oxbow Partners, a European insurance consultancy.

Between 2017 and 2020 he was CEO of Saga Services, where he led the firm’s insurance broking and personal finance businesses and before that he was managing director of Junction, the UK’s largest General Insurance partnership business. Prior to this, Duggan was CEO of Broker Network and Paymentshield at Towergate and he also spent over 20 years in the banking sector with Barclays, GE and HBOS.

Duggan’s appointment will take effect from today (Monday, July 05), and will continue for at least 12 months. He is replacing Steve Kingshott who is leaving the business.

Commenting on the news, Gerry Mallon, Tesco Bank chief executive, said he would like to welcome Duggan to the business and noted the new appointee’s wealth of experience in banking and insurance.

“[This] will be invaluable to us, our customers, and our partners,” he said. “Tesco Bank’s acquisition of Tesco Underwriting earlier this year underlines our commitment to the insurance market and our strategy of focusing on propositions which better meet the needs of Tesco shoppers.”