Gary Duggan appointed as Tesco Underwriting Interim CEO

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.  These appointments are subject to regulatory approval.

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.  Prior to 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.

Gary’s appointment will take effect from Monday 5 July and will run for at least 12 months.  He will replace Steve Kingshott who is leaving the business.

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.”

For media enquiries please contact:

Stuart Taylor, Public Affairs Manager, 07841 192901

Notes to Editors

  1. 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. 

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

  3. Tesco Bank also offers Pet and Telematics Insurance, and recently launched a new Travel Insurance proposition.

  4. Tesco Bank was recently named as Best Car Insurance Provider and Best Home & Contents Insurance Provider at the 2021 YourMoney Awards.

About Tesco Bank

Tesco Bank’s goal is to make banking and insurance easier and better value for people who shop at Tesco. We’ve been around since 1997 and today we help more than 5 million customers manage their money every day. Over 4,000 colleagues serve our customers seven days a week from our three main centres in Edinburgh, Glasgow and Newcastle, and we are also available through online and mobile banking 24/7. Tesco Bank participates in the Chartered Banker Professional Standards Board.

Tesco Bank is a trading name of Tesco Personal Finance plc. Registered in Scotland No. SC173199. Registered Office: 2 South Gyle Crescent, Edinburgh, EH12 9FQ

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