Direct Line Insurance Group PLC has announced the appointment of Adam Winslow as the Group's Chief Executive Officer, subject to regulatory approval. Winslow is expected to take up the role in the first quarter of 2024, succeeding Jon Greenwood, who has been the Acting CEO since January 2023. Winslow currently leads Aviva's UK and Ireland general insurance business and has a strong track record in the insurance industry, with experience in both personal and commercial lines. He has also served on the Board of the Association of British Insurers and is a non-executive director at Pool Re.
Greenwood will continue as Acting CEO until Winslow joins, focusing on improving business performance. Greenwood has chosen not to pursue the CEO role in order to develop a portfolio career. He will work with Winslow to ensure a smooth handover and transition before stepping back from his executive career and pursuing other opportunities.
Danuta Gray, Chair of Direct Line Group, expressed the Board's delight in Winslow's appointment, highlighting his deep expertise in the UK general insurance market and his outstanding track record of leading high-performing businesses. Winslow's strategic understanding of the sector and focus on operational excellence were also noted. Gray thanked Greenwood for his commitment, leadership, and focus on improving business performance during his time as Acting CEO.
Winslow expressed his privilege in being invited to lead Direct Line Group, emphasizing the company's rich heritage and passion for serving its millions of customers. He acknowledged the dynamic and evolving nature of the UK insurance industry and highlighted the importance of strong strategic vision and operational capability in delivering great customer service. Winslow looks forward to working with his new colleagues to drive growth, deliver for customers, and create long-term shareholder value.
Winslow's remuneration package includes an annual salary of £820,000, a pension allowance of 9% of salary, and participation in the Company's annual incentive plan and long-term incentive plan, in line with the Directors' Remuneration Policy approved by shareholders.