Hastings Direct

Hastings Direct appoints new managing director for insurer services

19th April 2011

Ahead of its planned IPO next year, Hastings Direct is making a series of senior management appointments this summer.

The company today announced the first of these appointments. Michael Lee will be joining as the new managing director insurer services in late June.

Edward Fitzmaurice, CEO, Hastings Direct: "We are hugely excited to have Michael join us. With Michael's depth of experience in the sector, he will help us build on our very solid foundations to make our company into one of the leading players in the industry."

Michael spent nearly a decade with Provident Insurance Plc working in marketing, product development, underwriting and claims management. A qualified Chartered Insurer, Michael left Provident to help establish a new insurance group.

He co-founded Southern Rock Holdings Ltd (SRHL) in Gibraltar and moved to Gibraltar as Managing Director of Southern Rock Insurance Company Ltd (SRICL) and from there developed the products and infrastructure of this new underwriter.

The business grew quickly, following the successful development of eBike, eCar, eVan brands, and partnerships with Aviva and ASDA. Michael then began building a UK based insurance services company to insource all SRICL's requirements. Eldon Insurance Services Ltd (EISL) was launched in April 2008 and Michael returned to the UK as Managing Director of Eldon to focus on this key venture for the group.

Fitzmaurice: "Michael has substantial experience in developing and growing businesses. We are currently enjoying significant growth and Michael is the first in a series of appointments planned to support the senior management realisation of all our ambitions."

Michael will report directly to Hastings Direct CEO, Edward Fitzmaurice. Hastings Direct has doubled in size in the past two years and is experiencing strong year-on-year growth. The Bexhill based broker currently employs 1,100+ staff and is on track to become a top five UK personal lines broker by 2012.

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