Zurich appoints new head of Oak Underwriting following takeover

Zurich Insurance Group has appointed Mark Peters as the new head of Oak Underwriting, a UK-based high net-worth insurance specialist, which it  acquired from RSA Insurance.

First announced in March, the acquisition boosted Zurich’s existing high net-worth proposition, known as Zurich Private Clients, broadened its distribution platform.

Peters replaces former Oak managing director Mark Coffey, who has left the business. Peters will report to Paul Glasper, Zurich’s head of specialist retail.

Peters was most recently Zurich’s head of market management for wealth. He is said to have played a key role in shaping Zurich’s retail platform proposition.

“Today’s announcement brings together two highly complementary brands to create a market leading high net-worth business," said David White, head of retail, Zurich UK. "This transaction significantly increases our scale in the market, transforming us into one of the UK’s largest high net-worth insurers and giving us a strong platform for driving future growth.

"Oak is an excellent strategic fit for our business, further strengthening our underwriting expertise, enhancing our distribution capabilities and expanding our regional footprint. We welcome our new customers, distributors and colleagues to Zurich.”

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