Admiral Group, a leading UK-based insurance provider, has announced that Cristina Nestares will step down as CEO of its UK Insurance business.
As part of the move, Alistair Hargreaves, currently the deputy CEO of UK Insurance, will assume the role of CEO, subject to regulatory approval.
Nestares, who has been with Admiral since 2005, initially setting up its Spanish business, has held the position of UK Insurance CEO since 2016.
She successfully navigated the company through the pandemic and led during a crucial period in the insurance market.
Following a near two-decade stint at the firm she is stepping down to spend more time with her family in Spain.
Reflecting on her tenure, Cristina Nestares, departing CEO of UK Insurance, said, “It has been a privilege to lead the UK business for the last eight years. The business is filled with incredible colleagues who have been key to the growth and diversification of the business. I’ve had the honour of holding a range of leadership roles within the Group and I’m really proud of everything our colleagues have delivered for customers and our commitment to always do the right thing for them. I wish Alistair, the team and everyone at Admiral every success.”
Milena Mondini de Focatiis, CEO of Admiral Group, also paid tribute to Nestares’ time at the firm, “Under Cristina’s leadership the UK business has continued to build on its position as one of the UK’s leading insurers. Cristina has a long history of commercial success and leaves behind a business in great shape.
Hargreaves, who joined Admiral in 2008, has held various senior roles including chief operating officer of UK Insurance before becoming the deputy CEO in 2022.
In his current role, he has overseen key functions such as Operations and Claims and has been instrumental in leading the company’s product diversification strategy.
This success, coupled with his extensive leadership experience and deep knowledge of Admiral’s products, customers, and internal strategy, makes the industry-veteran a natural fit for the CEO position.
At the helm, he is expected to drive growth and continue strengthening the company’s position in the UK insurance market.
Alistair Hargreaves, CEO of UK Insurance, remarked on his promotion, stating, “It is an honour to be able to step up and lead the business which I’ve worked at for almost two decades. I would like to personally thank Cristina for the support and counsel she has given me over the years. Admiral is a great organisation and I’m looking forward to working with my colleagues to drive growth and continue to be there for our customers when they need us the most.”
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