Covéa UK CEO 'delighted' to pass baton as he exits business
Covéa Insurance, the UK underwriting business of French mutual insurance group Covéa, has appointed a new chief executive officer (CEO) as James Reader has decided to leave the business.
After nine years as chief executive, Reader believes the "time is right" for him to take a step back. Covéa said Reader has no plans to take on another executive role.
Adrian Furness (pictured), currently chief operating officer, has been named new chief executive officer. He has held the role of COO at Covéa Insurance since December 2019, having previously been claims director of the company and its predecessor Provident Insurance since 2008.
Dominique Salvy, Covéa Insurance’s chairman said: “While the board of directors and our shareholder regret James’ personal decision to leave, we respect his choice. We are grateful for his leadership of the company throughout his tenure, which has delivered a solid strategic positioning for the business and has helped navigate the unprecedented challenges brought about by the pandemic. Going forward, no one is better positioned than Adrian to continue to guide the company and build on its strengths. The board wishes him every success.”
Furness added: “We are extremely grateful to James for the legacy he leaves within Covéa. I’ve worked with him for 18 years and he has been a brilliant leader of the business and, from both a professional and personal perspective, I will miss him greatly and wish him all the very best for the future.”
“Taking over from James is an absolute honour. I’ve been with Covéa for many years and it’s a company I love and believe in. We have an agreed and progressive strategy in place with great people and it is my intention to continue to drive this forward, together with the rest of the team within Covéa.”
Reader commented: “After nine years as Chief Executive, I have decided that the time is right for me to take a step back. It has been an absolute privilege to lead such a great business and team and I’m extremely proud of what we’ve achieved together. Covéa Insurance has an exciting future ahead of it and I’m delighted to be handing the baton on to Adrian, who I’ve no doubt will be a more than worthy successor.”
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