UK protection and health insurer The Exeter has announced key outcomes from its 2024 Annual General Meeting, including the appointment of Michael Payne as Chief Financial Officer.
The AGM highlighted a successful year for The Exeter, with membership numbers surpassing 138,000 and £40.2 million paid out in claims across health insurance, health cash plan, life insurance, and income protection.
The Exeter reported year-on-year growth in written premium income which comprises premiums from new policies sold in the year along with premiums of historic sales:
- Health insurance saw a substantial increase in new business, with premiums rising to £21.3 million in 2023
- Life insurance also saw notable growth, with new business premiums rising 18%, to £4.1 million
- Income protection also grew, with an increase in new business premiums to £5.5 million.
Isobel Langton, CEO of The Exeter, commented:
“Our AGM highlighted another strong year for The Exeter. We have continued to grow our membership numbers and new business volumes, continued to invest in our colleagues through training and development and supported a number of charitable causes at a time of continued cost of living and healthcare challenges in the UK.
The results that we continue to deliver are a testament to the hard work and dedication of our colleagues who continue to be our biggest asset.”
The AGM also announced Michael Payne as the new Chief Financial Officer. Michael, who joined The Exeter in October 2023 and has over 30 years of experience in insurance, asset management, and wealth management, is taking over from John Gunn, who has announced his intention to retire.
Michael is a qualified actuary who has held numerous senior positions throughout his career. His new role will encompass responsibility for finance, actuarial functions, and the newly formed insurance solutions team.
Isobel Langton added:
“Our people drive The Exeter forward, and with this in mind, I would like to congratulate Michael on his appointment and look forward to working closely with him to achieve our future strategic goals.
“I would also like to take this opportunity to thank John Gunn for the contribution that he has made to the success of The Exeter since he joined in 2017. John has been a key member of our Board and Executive Team and has been pivotal in delivering significant growth to The Exeter, helping to establish our position as one of the UK’s leading health and life insurance providers.
John has dedicated his entire career to the health and life insurance industry and his support and commitment have been invaluable since I joined The Exeter at the start of 2021, and I wish him all the best for the future.”
ENDS
Notes to Editors
PR Contact
Tom Stewart-Walvin, Rostrum
T: +44 (0)7855 689 302
E: theexeter@rostrum.agency
About The Exeter
The Exeter is a leading protection and healthcare insurer who have been supporting UK families in the event of ill health or injury since 1888.
Formerly known as the Exeter Friendly Society and Pioneer Friendly Society, The Exeter is a mutual friendly society. This means it’s owned by members and run for their benefit, rather than shareholders.
The Exeter is a trading name of Exeter Friendly Society Limited, which is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority (Register number 205309) and is incorporated under the Friendly Societies Act 1992 Register No. 91F with its registered office at Lakeside House, Emperor Way, Exeter, England EX1 3FD.
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