Direct Line replaces CFO with another Aviva exec

10th Apr 2024 07:27

(Sharecast News) - Motor insurance group Direct Line has poached the head of finance from Aviva's general insurance unit to be its new chief financial officer, replacing its CFO of three years just weeks after a failed takeover offer from Ageas.

Jane Poole, who has been CFO of Aviva's UK and Ireland general insurance business since 2021, will succeed current Direct Line CFO Neil Manser, who has been with the company since 2011 and been CFO since 2021.

In March, Belgian insurer Ageas walked away from a possible takeover of its British rival after two previous attempts were rejected.

The announcement also comes just two months after the appointment of Adam Winslow, the former chief executive of Aviva's UK and Ireland general insurance business, as Direct Line's new group CEO.

Manser, who was said to have been "instrumental" in Direct Line's IPO back in 2012 and has "helped to steer the business through a series of external challenges in recent years", will remain on board until Poole arrives - though no official date was set for this.

"Jane has impressive experience in the UK general insurance market and an enviable record of success in leading teams in personal and commercial lines insurance," said Direct Line chair Danuta Gray.

"The board conducted an extensive search to secure such a high calibre appointee and I am confident that Jane Poole will be a great asset to our organisation."