UK protection and health insurer The Exeter has appointed Michael Payne as commercial director.
Payne joins the mutual from KPMG where he served as a director in the insurance consulting practice.
He brings with him over 30 years’ experience in the insurance, asset management and wealth management industries.
He has previously held roles as customer and innovation COO and customer and distribution CFO at M&G.
Other roles include portfolio actuarial and operations director at Prudential Assurance and actuarial director in Scottish Friendly.
Payne has been credited with leading “complex transformation projects” including the delivery of a £400bn asset programme as well as digital transformation programmes for FTSE 100 100 companies.
He has also helped develop the actuarial aspects of a c£50bn annuity business and has led large teams across financial reporting and operations.
He currently holds a role as non-executive director at Glasgow Clyde College, and previously held NED roles at M&G Wealth Advice Ltd, Prudential International Assurance and was a member of Prudential’s IGC (Independent Governance Committee).
The Exeter CEO Isobel Langton welcomed Payne’s appointment, adding “his wealth of knowledge and experience make him a valuable addition to both The Exeter’s Board and our wider leadership team.
”What’s more, Payne’s customer focus and passion for the mutual sector align perfectly with our values, and he will play a key role in helping us to deliver our future growth strategy.”
Commenting on his appointment, Payne said: “Looking back on my career some of my most enjoyable and rewarding experiences have been whilst working in the mutual sector, particularly my time at Scottish Friendly.
“I’m therefore excited to be joining The Exeter at a time of market leading transformation, and I am looking forward to working with Isobel and The Exeter teams to deliver our long-term growth aspirations for the benefit of our members and advisers.”
