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esure Group names boss of Australia’s biggest global insurer as its chief executive officer

The former London-listed firm, which was snapped up by Bain for £1.21bn last August, said David McMillan is expected to join the company in August 2019
Shelia's Wheels advert
McMillan is currently group chief operating officer of QBE, one of the world's top 20 insurance and reinsurance companies

esure Group, the insurer bought by private equity firm Bain capital last year, has named the boss of Australia’s biggest global insurer as its chief executive officer.

The former London-listed firm, which was snapped up by Bain for £1.21bn last August, said David McMillan is expected to join the company in August 2019, subject to regulatory approval.

READ: It pays to insure! Peter Wood to make another mint as esure agrees £1.2bn takeover with Bain Capital

McMillan is currently group chief operating officer of QBE, one of the world's top 20 insurance and reinsurance companies.

Sir Peter Wood, esure’s chairman of esure, commented: "David has a strong track record of delivering digital transformation across the insurance market.  Under David's leadership, I am confident the business will deliver on its strategic ambitions."

Wood and Halifax bank launched online insurer esure.com in 2001. After a management buy-out in 2010, it became an independent company and listed in London in March 2013 at 290p per share. Bain paid 280p a share for the Shelia's Wheels brand owner last year.

Luca Bassi, a managing director of Bain Capital Europe, said: “Our plans for esure are very ambitious and we are convinced David is the right leader to deliver our aspirations with the support of the broader esure leadership team."

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