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Tesco Underwriting names new interim CEO

Appointee Gary Duggan will replace Steve Kingshott who is leaving the business

Tesco Bank has announced the appointment of Gary Duggan to the roles of interim chief executive officer, Tesco Underwriting, and interim chief insurance officer, Tesco Bank.  

Duggan has spent his career in banking and insurance and is currently a senior adviser at Oxbow Partners, a European insurance consultancy.

From 2017-2020 he was CEO of Saga Services, leading their insurance broking and personal finance businesses.  

Prior to this he was managing director of Junction, the UK’s largest general insurance partnership business, and was previously CEO of Broker Network and Paymentshield at Towergate.

Duggan also spent over 20 years in the banking sector with Barclays, GE and HBOS.

His appointment will take effect from today (5 July) and will run for at least 12 months. He will replace Steve Kingshott who is leaving the business.

Gerry Mallon, Tesco Bank chief executive, said: “I’d like to welcome Gary to our business.  He has a wealth of experience in banking and insurance which will be invaluable to us, our customers, and our partners. 

“Tesco Bank’s acquisition of Tesco Underwriting earlier this year underlines our commitment to the insurance market and our strategy of focusing on propositions which better meet the needs of Tesco shoppers.”

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