UK protection and health insurer The Exeter announced today the appointment of Michael Payne as its new commercial director. This key appointment will also see Payne join both the Main and Executive Boards of The Exeter, to contribute to the mutual’s future growth plans. Payne brings over three decades of experience from the insurance, asset management, and wealth management sectors.
Payne joins The Exeter from KPMG, where he was a director in the Insurance Consulting practice. He has an extensive career, with previous roles including customer and innovation COO and customer and distribution CFO at M&G, portfolio actuarial and operations director at Prudential Assurance, and actuarial director at Scottish Friendly.
Payne has led complex transformation projects throughout his career, including the delivery of a £400 billion asset programme for a FTSE 100 composite insurer and digital transformation initiatives for other FTSE 100 companies. He has also been pivotal in the development of the actuarial aspects of a circa £50 billion annuity business.
He currently serves as a non-executive director at Glasgow Clyde College and has previously held similar roles at M&G Wealth Advice, Prudential International Assurance, and was a member of Prudential’s Independent Governance Committee.
Isobel Langton, CEO at The Exeter, said: “I am pleased to welcome Michael to The Exeter at what is an exciting time for our business. 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, Michael’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.”
Payne added: “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.”
