- Aviva Executive Adam Winslow in Talks for CEO Role at Churchill and Green Flag
- Direct Line Group Approaches Aviva’s Top Executive for CEO Position
- Uncertainty Surrounds Adam Winslow’s Acceptance and Other CEO Candidates for Direct Line
Churchill and Green Flag, which has struggled this year, is in talks to hire Aviva executive Adam Winslow as CEO.
Direct Line Group, a troubled auto insurance, has approached Aviva’s top executive to become its CEO.
Adam Winslow has been in talks to become CEO of the FTSE-250 group, which owns Churchill and Green Flag.
This weekend, sources in the insurance industry stated that it was unclear whether Mr. Winslow would accept the position.
Also unknown was whether other candidates were still in negotiations with Direct Line.
Since January, when Penny James resigned following a series of profit warnings and a decision to eliminate its dividend, Direct Line has been seeking a new leader.
The company appointed its chief commercial officer, Jon Greenwood, as her interim replacement.
Since January 2021, Mr Winslow has been Aviva’s international operations CEO.
Four months later, he was appointed to lead its general insurance business in the United Kingdom and Ireland.
His career has also included stops at AIG and Allianz, two of the world’s largest insurance corporations.
Mr. Winslow currently serves on the board of the Association of British Insurers, the principal trade association for the industry.
The search for Ms. James’s replacement began seven months ago when she was effectively forced out of her position as CEO of Direct Line due to mounting shareholder unrest.
Chairwoman Danuta Grey has been heading the search for a permanent replacement.
Direct Line has underperformed its competitors in the UK general insurance market due to inflation.
In May, the company warned once more that the cost of repairing vehicles and used automobiles would likely impact profits this year, with insurance premiums failing to keep up.
After acknowledging that it had underpaid some policyholders for written-off vehicles, the Financial Conduct Authority ordered the company to evaluate five years of insurance claims the following month.
In recent months, the City regulator has conducted a more comprehensive examination of insurance industry practices in response to consumer treatment concerns.
Direct Line’s shares have dropped 25% in the past year, giving it a market valuation of little over £2 billion.
It has been listed on the London Stock Exchange since 2012 when former owner Royal Bank of Scotland – now NatWest Group – was required to sell it as part of its financial crisis rescue.
Evelyn’s wealth management organisation has been run by respected industrialist Paul Geddes since his appointment as CEO.
On September 7, Direct Line is scheduled to release its half-year results.
