Insurance Transfer Deadline Day; and four weeks to Broker Expo
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What if insurance had a football style transfer window?
And so with a flurry of late movement the insurance transfer window has closed.
Direct Line managed to sneak in a raid on Aviva for its UK & Ireland general insurance boss Adam Winslow before the deadline day , leaving the former business with little time to seek an outsider to fill the role.
Instead Aviva looked within its wider group of companies to bring over Jason Storah from Canada .
Elsewhere, free agent and former Aviva director Gareth Hemming turned up as new chief distribution officer for Hiscox UK and the well-travelled exec Mark Mugge added MGA Optio Group to a list of employers that includes Lucida Group, Ardonagh and Gallagher.
Finally, highly coveted ex-Allianz commercial CEO Simon McGinn revealed he’d join Dual in the January transfer window.
Of course no such transfer window exists for senior recruitment in insurance, but imagine a world where firms could only seek the help of head hunters in two allotted windows a year as is the case with football?
What impact would that have on the hiring and firing of insurance executives?
Would it make insurance companies less likely to take risks in hiring from outside the sector - or taking a chance on an up-and-coming star, fearing any recruitment mistake might not be able to rectified for a few months?
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Would it make insurers focus more on internal succession and building their own to replace a CEO/senior exec should the moment come where they move on (or are moved on)?
Would it create a market where you have a raft of silver haired guns for hire who could step in until the next window opens to steady a ship should a drastic call be needed over an incumbent?
Leave your thoughts and observations in the comments section.
Content director, Insurance Age
Broker Expo 2023 is four weeks away
Taking place on 12 October in its brand-new home at the NEC, Birmingham, Broker Expo remains the place for the industry to meet, learn, and discover.
Attended by more than 1,000 brokers, Broker Expo is still the largest broker-only conference and exhibition in the UK.
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