UK General hires Schofield as Chief Commercial Officer from Zurich Private Clients
Matthew Schofield has joined the senior management team of UK General Insurance as chief commercial officer, reporting to CEO Karen Beales. Schofield, who was previously head of private clients at Zurich, begins his new role on 19 June.
Karen Beales said that Schofield was the latest senior recruit to the business since its acquisition by J C Flowers, following Jane Bean’s recruitment as chief risk officer, and the appointment of John Spencer as chairman.
She said: “We are delighted to secure someone of Matthew’s calibre and experience for this important new role. His last role saw him running the P&L for multi-million pound business divisions at Zurich – in both HNW and construction – and his profile is exactly what we are looking for as we build our virtual insurer model at UK General.”
She explained that in 2010, UK General was an early exponent of the ‘hybrid’ MGA model, combining a low cost operating model with disciplined pricing and underwriting. “Now we are well-placed to move the model on to the next iteration, from hybrid MGA to virtual insurer.”
“A virtual insurer has all the capabilities and the functional disciplines of an insurer, such as actuarial capability, regulatory and governance, product design, and reserving. We now have all these components in place and our priority now is to complete the senior team and consolidate this virtual insurer model.”
Matthew Schofield said: “I was thrilled to be offered the opportunity to work alongside Karen and build the next generation of successful MGA. Despite challenging market conditions I am convinced that, with the support of our new owner J C Flowers, UK General will be one of the winners during the next five years, and I want to be a part of its success.”
Matthew Schofield CV
Matthew was head of private clients for Zurich between 2010-2017. Previously, he spent 12 years in Zurich’s construction division as business manager (1998-2006) and corporate construction manager (2007-2010). He began his career in sales for Eagle Star (1988-1998). He is an ACII and is completing his FCII, and also works for the Princes Trust as a coach and mentor.