Xchanging’s Tim Yorke to head Lloyd’s insurer’s operations

Appointment

Lloyd’s motor insurer Equity Insurance Group has hired Tim Yorke to the newly created position of chief operating officer.

It has also promoted Peter Smith, previously business transformation programme leader, to the role of claims director.

The appointments follow the completion of private equity house Aquiline Capital Partners’ purchase of Equity from Australian insurer IAG.

Yorke joins Equity firm from technology outsourcing firm Xchanging. He began his career with Aviva predecessor firm Commercial Union and spent 15 years as a consultant working with insurers and brokers in the UK, Europe and US.

Between 2009 and 2011 he was in the US working on the restructuring of a third-party administrator. Since his return to the UK he has been helping Xchanging develop new services for the global insurance market.

Smith joined IAG from RSA, where he had been change programme leader in charge of implementing major technology, re-engineering and organisational effectiveness projects.

Before being named Equity’s business transformation programme leader, he was interim claims director and head of strategy for Equity Claims through the insurer’s remediation process.

The company restructured after suffering heavy motor bodily injury losses in 2010.

Equity’s complete executive team is:

  • Ian Parker (chief executive)
  • Mark Bacon (active underwriter)
  • Andrew Gibson (chief financial officer)
  • Tim Yorke (chief operating officer)
  • Charles Offord  (managing director, Equity Insurance Partnerships)
  • Peter Smith (claims director)
  • Peter Hessey (interim HR and property director)
  • Vicky Cuggy (company secretary)

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