The Exeter has appointed Michael Payne as chief financial officer (CFO).
He succeeds John Gunn who is retiring.
Payne joined The Exeter as commercial director in October last year and has more than 30 years of experience in insurance, asset management, and wealth management.
Payne’s appointment was announced at the provider’s annual general meeting (AGM).
Year-on-year growth
The Exeter also reported year-on-year growth in written premium income which comprises premiums from new policies sold in the year along with premiums of historic sales:
Health insurance saw growth in new business, with premiums rising to £21.3m in 2023, while life insurance also saw growth, with new business premiums rising 18%, to £4.1m.
Income protection also grew, with an increase in new business premiums to £5.5m.
Isobel Langton, CEO of The Exeter, said: “Our AGM highlighted another strong year for The Exeter.
“We have continued to grow our membership numbers and new business volumes, continued to invest in our colleagues through training and development and supported a number of charitable causes at a time of continued cost of living and healthcare challenges in the UK.
“The results that we continue to deliver are a testament to the hard work and dedication of our colleagues who continue to be our biggest asset.”
Langton added: “Our people drive The Exeter forward, and with this in mind, I would like to congratulate Michael on his appointment and look forward to working closely with him to achieve our future strategic goals.
“I would also like to take this opportunity to thank John Gunn for the contribution that he has made to the success of The Exeter since he joined in 2017.
“John has been a key member of our board and executive team and has been pivotal in delivering significant growth to The Exeter, helping to establish our position as one of the UK’s leading health and life insurance providers.
“John has dedicated his entire career to the life and health insurance industry and his support and commitment have been invaluable since I joined The Exeter at the start of 2021, and I wish him all the best for the future.”