(Alliance News) - Direct Line Insurance Group PLC has approached an executive of larger peer Aviva PLC to be its next chief executive officer, Sky News reported late Saturday.
The Bromley, England-based motor and home insurer has approached Adam Winslow to take over as CEO. Winslow currently is the CEO of Aviva UK & Ireland General Insurance, having joined the London-based insurer in January 2021 to be CEO of International.
Citing "insurance industry sources", Sky News said it was not yet clear whether Winslow will take the job.
https://news.sky.com/story/direct-line-approaches-aviva-executive-winslow-about-ceo-vacancy-12942791
Penny James stepped down suddenly as Direct Line CEO in January, after Direct Line said wouldn't pay a final dividend for 2022 due to a big increase in weather related claims that pushed it into a loss on underwriting. Chief Commercial Officer Jonathan Greenwood was appointed as acting CEO.
Direct Line shares closed down 1.8% on Friday and are down 25% over the past 12 months.
By Tom Waite, Alliance News editor
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Direct Line (DLG)
Aviva (AV.)