Watson will step down this summer in order to focus on further education and non-executive roles, and will be replaced by Ant Middle on 1 June 2020, subject to regulatory approval.
Middle joined Ageas in 2014 as the managing director of partnerships in 2014. He played a “pivotal role” in the development of its relationships in the broker and intermediated market, and oversaw the launch of Ageas as a direct brand.
Watson said: “It has been a privilege to be at the head of Ageas UK for over seven years.
“During my tenure I have been fortunate to enjoy the support of the board, the senior team and, indeed, all colleagues, and that support has always been valued and very much appreciated.”
“The care and commitment our people show is what makes Ageas stand out, and I am proud to be taking over a business that is so dedicated to delivering for our customers, our brokers and partners, our shareholders and each other.”
“With Ant, we have appointed a leader with a broad background and knowledge of the industry, combined with familiarity of the business and strong and established industry relationships with brokers and partners.”
He added: “We are incredibly grateful to Andy for his commitment to leading the UK business over the last 10 years, in what have been very challenging market conditions.
“While we are very sorry to see Andy leave, we recognise the significant contribution he has made to the business and the industry as a whole. He leaves the business with our best wishes for his future endeavours.”