back Back

Tesco Bank announced the hiring of Gary Duggan as interim CEO and CIO

By Joy Dumasia

July 06, 2021

  • Europe
  • Tesco
Share

Tesco Bank has announced the appointment of Gary Duggan to the roles of interim Chief Executive Officer, Tesco Underwriting, and interim Chief Insurance Officer, Tesco Bank.

Gary has spent his career in banking and insurance and is currently a senior adviser at Oxbow Partners, a European insurance consultancy. From 2017-2020 he was CEO of Saga Services, leading their insurance broking and personal finance businesses. 

Before this, he was Managing Director of Junction, the UK’s largest General Insurance partnership business, and was previously CEO of Broker Network and Paymentshield at Towergate. Gary also spent over 20 years in the banking sector with Barclays, GE and HBOS. 

Gerry Mallon, Tesco Bank Chief Executive, said: “I’d like to welcome Gary to our business. He has a wealth of experience in banking and insurance, which will be invaluable to us, our customers, and our partners. Tesco Bank’s acquisition of Tesco Underwriting earlier this year underlines our commitment to the insurance market and our strategy of focusing on propositions which better meet the needs of Tesco shoppers.”

Tesco Underwriting was established in 2010 as a joint venture between Tesco Bank and Ageas UK, underwriting Tesco Bank-branded car and home insurance policies. On 4 May 2021, Tesco Bank completed the acquisition of Ageas’s stake in Tesco Underwriting, enabling Tesco Bank to create an end-to-end insurance business. 

Earlier this year, Tesco Bank announced that, from 1 August 2021, all its new and renewing car and home insurance policies would be underwritten by Tesco Underwriting. This will replace the external panel of six insurers that Tesco Bank currently uses, alongside Tesco Underwriting, to manage its car and home book.

 

Previous Article

July 06, 2021

Ecobank Group integrates Express cash by Semoa to accelerate financial inclusion in Africa

Read More
Next Article

July 06, 2021

HDFC and Creditas Solutions to enable a Digital Self-service Credit Portal

Read More






IBSi Daily News Analysis

June 21, 2024

Europe

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 20, 2024

4 Open Banking platforms shaping the future of financial data in the US

Read More

June 18, 2024

GoCardless partners with Federation of Small Businesses to tackle late payments

Read More

June 13, 2024

Fin+InsureTech Finsall raises $1.7m in Bridge Round led by Unicorn India Ventures & Seafund

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023