MIB makes interim chief financial officer role permanent

The Motor Insurers’ Bureau (MIB) has made Harkamal Phagura its permanent chief financial officer, after he joined the executive team in March in an interim role. 

Phagura will continue to lead the firm’s central services function, which incorporates finance, legal, procurement and facilities.

In his nine months at the MIB Phagura has overseen the completion of the firm’s new offices in London, improving the communication around the levy and beginning the financial planning for the organisation’s new five-year strategy.

Angus Eaton, chief executive at the MIB, said: “I have thoroughly enjoyed working with Phagura since I arrived at MIB in July.

“I am confident that his leadership, expertise and drive will play an instrumental role in MIB’s development and future success in serving the insurance industry and its customers.”

‘Vital work’

Phagura brings experience from private equity around financial services, insurance and data management sectors to his role at MIB.

Most recently, he worked at financial services firm Maxxia UK as group finance director and is also a fellow of the Chartered Institute of Management Accountants.

Previously, he has also worked for the RAC, as a finance manager for Norwich Union,  and for Aviva as reporting manager for business services.

Phagura added: “I am excited to continue being part of MIB and the vital work we do to give victims of uninsured and hit-and-run driving the support they need, while working with insurers and the police to make our roads safer.

“Alongside my MIB and industry colleagues, I look forward to ensuring we have the financial resilience, strategy and governance we need to thrive in a complex and changing world and to continue delivering long-term value for our members.”