Chief executive of insurance firm announces he is to step down

Gilles Normand

The chief executive of Manchester based insurance firm Swinton has stepped down.

Chief executive Giles Normand has announced he is leaving the firm ahead of a deal which will see it sold for £165m.

It was announced last month Manchester based Swinton is being acquired by the Ardonagh Group.

The firm was founded in 1957 and focusses on motor and home insurance and additional specialist lines including caravan, motorhome and motorbike. At its height it was the largest insurance business in the country.

Ardonagh agreed to acquire the company from Covéa Group in September.

Now, Swinton has confirmed that chief executive Giles Normand “has taken the decision that the time is right to leave”.

A spokesperson for Swinton added: “As a Covéa employee, Gilles Normand has taken the decision that the time is right to leave the Swinton Group.

“During his four year tenure, the business has been transformed and is well on its way to becoming a leading digital broker.”

Current chief financial officer Scott Kennedy has been appointed as chief executive on an interim basis.

Chris Moat will continue in his role as chairman of the Swinton Group and will oversee the leadership of the business in the run up to its sale.

 

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