CEO for Retail Mutual Insurer

The client was established as a mutual organisation owned and controlled by its members, all of whom belonged to a specific sector of the UK infrastructure and economy.

The mutual offers a range of products including all classes of material damage, business interruption and liability covers, together with personal accident and business travel.

After successfully executing a five-year growth plan, the incumbent CEO had transitioned to chairman, creating the need for a new CEO to lead the next phase of the company’s journey.

• During the research phase, we built detailed market maps of each candidate pool and carried out rigorous referencing on all potential candidates.
• We presented market insights on key competitors and the mutual market landscape, across Scotland, England and Wales.
• We refined the candidate pool to align with market conditions and the challenges specifically facing that mutual’s sector.
• After thorough research assessing 169 candidates across underwriting, broking, mutual management service companies and within industry (i.e. Risk Managers and Buyers), we developed a longlist of 33 candidates, prioritising 12 for client review.
• We swiftly and discreetly engaged with candidates, sharing the company’s message in a clear and concise manner.

Damhurst targeted heads of regional offices, former CEOs of mutuals, managing directors of retail brokers, and managing directors of mutuals within specialty insurance, company markets, and specialist MGAs. We conducted in-depth meetings with six candidates, sharing the client’s investment and vision to encourage interest.

Damhurst identified a highly capable leader with a history of running businesses, driving considerable growth and successfully managing relationships with members. The appointment fostered confidence among both internal and external stakeholders, whilst also ensuring a continuity of strong leadership for clients and staff.

The Search process involved several members of the existing board, key member representatives, the CEO and the Chair. This process alone promoted a level of collaboration that brought them together and into agreement on key topics.