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    DLG   GB00BY9D0Y18

DIRECT LINE INSURANCE GROUP PLC

(DLG)
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Direct Line Insurance : Group today announces new senior management responsibilities

05/25/2021 | 07:01am EDT

Direct Line Group today announces new senior management responsibilities as the Group continues to transform the way it works to build an insurance company for the future, driven by data and technology which is fully digitally enabled and can operate in an agile and low-cost way.

As the Group moves into the next phase of its strategy to drive benefits and growth out of the investments it has already made, it has created two new roles on the Executive Committee ('ExCo'). The two new roles will replace Steve Maddock, Chief Operating Officer who announced he was leaving last month. The Group also appointed its new Chief Risk Officer who will start later this year, subject to regulatory approval.

  • Managing Director, Customer Sales, Service & Claims: Jessie Burrows who joined the business in 2016 as Group Financial Controller and is currently Managing Director of Claims, will take on the extended role and join the ExCo team. This move will help to provide more flexibility and pace in how the Group responds to its customers and create a simpler, more flexible structure which supports the Group's digital transformation.
  • Chief Information Officer: This new role puts the Group's strategy to be a fully digitally enabled business at the heart of its leadership team. They will set the technology strategy, build the digital capabilities that will underpin the Group's future business plan and leverage benefits from the investment in technology that the Group has already made. Recruitment is underway for this role.
  • Chief Risk Officer: Aurore Lecanon currently Chief Risk & Compliance Officer at Prudential International has been appointed to the role and will join later in the year, subject to regulatory approval. Her focus will be on how the Group shapes its approach to managing risk as the business continues its agile transformation. Aurore succeeds Jose Vazquez following his decision to retire.
  • Chief Strategy Officer: Jazz Gakhal has been made a permanent member of the Executive Committee. Jazz has held a number of roles across the business, most recently in Commercial, leading Direct Line for Business through its agile transformation to deliver a new digital platform in the micro SME space which has resulted in strong policy count growth.

Later this year once Steve Maddock and Jose Vazquez leave the Group and Aurore Lecanon takes up her position, the Group's Executive Committee will have 54.5% female representation, alongside 33% representation of women on the Board and is one of only a handful of FTSE250 companies with both a female CEO, Penny James and Chair, Danuta Gray.

Penny James, CEO said, 'This business has real momentum and despite lockdown restrictions has continued to land big transformation projects. As we move into the next phase of our strategy, it felt like the right time to ensure that our executive roles were aligned to deliver it. I'm delighted to welcome Jessie, Jazz and Aurore to the Executive Committee whose experience, drive and leadership will help us to forge ahead with our strategy to drive benefits and growth out of the investments we have already made. The whole ExCo team are determined to build an insurance company for the future, driven by data and technology which is fully digitally enabled and can operate in an agile and low-cost way.'

ENDS

For more information please contact:

Jade Trimbee
Senior Manager
Direct Line Group
Tel: 01372 839 452
Mobile: 07825 315 931
Email: [email protected]

Direct Line Insurance Group plc

Direct Line Group (DLG) is one of the UK's leading insurance companies. The Group's vision is to create a world where insurance is personal, inclusive and a force for good. Through its well-known brands which include Direct Line, Churchill, Darwin, Privilege, NIG, Direct Line for Business and Green Flag, DLG helps people to carry on with their lives, giving them peace of mind now and in the future. Its brands offer a wide range of general insurance products across motor, home, commercial, travel, pet and rescue both direct to customers and through price comparison websites and underwrites insurance products for third party partners. The Group believes that by embracing sustainable practices it creates a better corporate culture, more reliable products and brings long-term rewards for its customers, people and shareholders.

Disclaimer

Direct Line Insurance Group plc published this content on 25 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 May 2021 11:00:09 UTC.


ę Publicnow 2021
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Financials
Sales 2021 3 062 M 4 204 M 4 204 M
Net income 2021 343 M 471 M 471 M
Net Debt 2021 - - -
P/E ratio 2021 11,4x
Yield 2021 8,56%
Capitalization 3 781 M 5 192 M 5 191 M
Capi. / Sales 2021 1,23x
Capi. / Sales 2022 1,17x
Nbr of Employees 10 807
Free-Float 97,8%
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Mean consensus OUTPERFORM
Number of Analysts 17
Last Close Price 286,00 GBX
Average target price 362,24 GBX
Spread / Average Target 26,7%
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Managers and Directors
Penelope Jane James Chief Executive Officer & Executive Director
Neil David Manser Chief Financial Officer & Executive Director
Danuta Gray Chairman
Steven Maddock Chief Operating Officer
Sebastian Richard Edward James Independent Non-Executive Director
Sector and Competitors