Source - SMW
esure Group chief executive Stuart Vann is stepping down by mutual consent with immediate effect.

esure said that as it continues to evolve its long term strategy the board and Vann had agreed that this would be best achieved through new leadership with significant expertise and experience in a broad spectrum of customer facing businesses, in an increasingly digital and data driven world. 

It said the process to find a successor had begun.    esure said: 'Since joining in 2000 Stuart has been instrumental in the success of the business to date working across a number of influential roles and became CEO in February 2012. 

'The business has grown in this time to 2.4 million in-force policies and over £800m in gross written premiums.'   During the process of selecting a new CEO, chief financial officer Darren Ogden will become interim CEO, subject to regulatory approval. 

He will be supported by chairman Sir Peter Wood who will take a more active role in the business. 

Sir Peter said: 'On behalf of the Board, I'd like to thank Stuart for his immense contribution to esure. Under his direction, the company has introduced a successful footprint expansion programme and the business remains on track to deliver 3 million in-force policies by 2020. 

'We wish him all the best for the future. Looking to the future, the process of selecting a new CEO is under way.'     Vann said: 'After 17 years at esure I feel now is the right moment to move on. I have enjoyed my time with the business immensely and am proud of all that we have achieved. 

'Now is the right time to pass the baton on to someone else to take the business to the next level.'

In a brief trading update the group said it continues to deliver on its profitable growth ambitions and had achieved gross written premiums of £820m (up +25% vs. £655m in 2016), in-force policies of 2.4 million (+9% vs. 2.2 million in 2016) and a profit before tax in the region of £95m-£98m in 2017 (+30% to +35% vs. £72.7m in 2016), subject to audit.   The group said it had  started 2018 positively and is trading in line with the Board's expectations.