Tesco Underwriting has today announced the resignation of Geoff Carter, CEO, who will take up another senior position within the industry later this year. 

Geoff played a vital role in establishing Tesco Underwriting in 2009 following a new; award winning Motor and Household insurance partnership between Ageas UK and Tesco Bank.  The deal was further extended last year and Tesco Underwriting now has a significant presence in the UK insurance market, serving over 1.2 million Tesco Bank customers and delivering more than £420 million in Gross Written Premiums each year.

The recruitment process for a successor has already begun and an announcement will follow when the appointment is made.

Commenting on Geoff’s departure, Karl Bedlow, Managing Director, Insurance, Tesco Bank said:

“Geoff has been with Tesco Underwriting since its creation and can be very proud of his role in launching and establishing a truly customer-focused insurance business. He leaves a strong legacy and I wish him every success in the future.”

Andy Watson, CEO, Ageas UK added:

“Geoff has been a significant contributor to the successful partnership between Ageas and Tesco Bank. I know that our people here join me in wishing him every success in his new role.”

Geoff commented:

“Having been involved with Tesco Underwriting from the start, this has been a difficult decision for me. I’m immensely proud of everything the teams across the joint venture have achieved together to launch and build Tesco Underwriting into a strong, profitable and customer focused business. I’m leaving on the best possible terms with the shareholders and Board, and am very grateful to them for their help and support over the last five years.