Direct Group appoints Steve Broughton
02/10/2007 09:00:00 by Marketing
Direct Group are pleased to announce that Steve Broughton, former Managing Director at Royal & SunAlliance, has been appointed Chairman of Direct Group with effect from 1 October following completion of the MBO of the Company for £40M with the backing of LDC. Steve who is also on the Boards of insurer Fortis UK, software house SSP Holdings, motor claims management company Ai Claims Solutions and chairs the Sun Alliance Pension Fund brings a wealth of experience of the UK insurance market to the Board. Steve was formerly Chairman of Polaris UK, the industry owned Joint Venture also responsible for i-market, and of Swinton the leading intermediary.
Derek Coles Chief Executive Officer who led the recent management buyout at Direct Group commented “Steve joins us at an exciting time and his depth and breadth of experience across all aspects of the insurance market will add significant value to our business. Richard Watson will continue as Deputy Chairman as we strengthen our senior team.”
Steve said: “I am delighted to join Direct Group. It has a great opportunity to assist both insurers and intermediaries or affinities to reduce their costs and increase their marketing penetration in a variety of personal lines and product lines with its extremely impressive systems and management information capabilities. We will also be looking to expand further through a number of targeted acquisitions.”
