Broker announces ex-Ardonagh boss as new chief executive

Insurance broker Lycetts has appointed Ian Barclay as its new chief executive.

Barclay will succeed Charles Foster, who is retiring after seven years as the firm’s top boss.

Barclay joins from Ardonagh, which he joined in 2018 as managing director of property retail.

He took up a role at the broker’s MGA Geo Underwriting in 2020, with him having a focus on the agricultural sector.

Barclay’s career has also seen him serve as the UK and Asia chief executive at Axa Art Insurance and managing director of personal lines at Aon Risk Solutions.

“I am thrilled to be joining Lycetts at such a dynamic time for the company,” Barclay said.

“The potential for further growth and innovation is immense and I am committed to taking the business forward while preserving the strong values and culture that have made Lycetts a trusted name in the industry.”

New role

Lycetts specialises in farm and estate insurance and also provides bespoke financial services, household, commercial and bloodstock insurance advice.

While Foster is stepping down, he will continue his association with Lycetts as non-executive chairman at Lycetts Financial Services.

“Lycetts has evolved significantly over the past seven years, maintaining its cultural heritage while embracing new opportunities,” he said.

“With ongoing investments in processes and systems underway across our general insurance and financial services divisions, as well as Lycetts Risk Management Services, it is the right time for new leadership.

“Ian has the expertise to take the company to the next phase of its development and I wish him and Lycetts every success.”

Benefact

The broker is part of Benefact Group, which is a specialist financial services group that gives its available profits to charity.

David Moore, chief executive of broking and advisory at Benefact Group, said he was “delighted to welcome Ian”.

“We have an excellent team at Lycetts and Ian brings additional experience and a strong track record that will be invaluable as Lycetts delivers further growth and smarter ways of working,” he added.

“I have full confidence in Ian’s ability to lead Lycetts during this exciting next phase.

“I would also like to thank Charles Foster for his seven years of service as chief executive. He leaves a very different and much stronger business from the one he took over – revenue has grown by more than a third during his tenure and Lycetts has just reported its highest ever annual profit.”