Matras hired to boost Tesco Bank insurance

Tesco Bank has appointed Laurent Matras as chief underwriting officer. He joins from Axa, where he was a member of the insurance executive committee, both in the UK and more recently in China, where he spent a two year assignment as chief finance officer.

Prior to this, he spent eight years as managing director for Axa’s UK retail business, during which he had executive responsibility for pricing, analytics and underwriting, and gained a wealth of senior level knowledge of operations and transformation.

Mr Matras will help develop Tesco Insurance’s data, pricing and underwriting strategies. He will report to Gary Duggan, chief insurance officer and underwriting’s CEO.

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. 

Mr Duggan said: “I’d like to welcome Laurent, who joins us at an exciting time for our insurance business. He brings a breadth of experience and technical expertise that will be invaluable for our growth plans.”

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