Draft:Nick Turner, insurance executive

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Nick Turner, NFU Mutual CEO

Nick Turner (born 1967) is a British businessman who has been the chief executive officer (CEO) of NFU Mutual since 1 April 2021;[1][2] that business is a very large mutual society in the UK with current managed assess of £19 billion (2023, down £4 billion on 2022).[3]

Early life[edit]

Nicholas James Turner was born in July 1967.[4] He attended Reading Bluecoat School, in Berkshire.[5] He holds a second class degree in marketing.

Career[edit]

In 1986, after graduating, Turner took at role at Axa, where he worked in a variety of roles,[6] which culminated in being managing director of intermediary & partnerships in personal lines.[7]

On joining NFU Mutual in 2013 as Sales and Agency Director.[8] Turner was made CEO of NFU Mutual on 01 April 2021[9], succeeding Lindsey Sinclair .[10][11]

Industry offices held[edit]

Turner is currently a board member of the International Cooperative and Mutual Insurance Federation (ICMIF).[12]

Turner addressed an Association of British Insurers town hall meeting in 2021,[13] and a Coventry and Warwickshire Champions event in 2023.[14]

Turner was Chartered Insurance Institute (CII) President between 2019 and 2021.[15][16][17] He did not personally attend the dinner in is presidential year, because of the pandemic, but the event did go ahead with him attending virtually.[18] The theme of his presidency was "Trust",[19] which he wrote an article about in which he stated the "key individual behaviors that drive trust [are]: benevolence, integrity, competence and predictability."[20]

His term as president was extended because of the Coronnavirus pandemic.[21][22][23]

Turner was president of the Personal Finance Society for 2016/17.[24][25] He was appointed Vice President of this organisation in 2009.[26][27] He was on the board of that organisation in 2011.[28]

Controversies[edit]

In 2018 Nick Turner's "new business engine" also had to downgrade targets by £7 million pounds."[29]

Turner spoke on a Chartered Institute of Insurance podcast about how failures of insurance products to respond to COVID-19 were damaging the welfare of policyholders, and how the litigation around this would "run and run".[30]

Since 2022, his leadership of NFU Mutual has been entangled in litigation around coronavirus business interruption."[31][32]

In 2022, the Financial Reporting Council called in the accounts that Turner's board had presented for scrutiny fearing there had been under declarations.[33]

The accounts that Turner presented in 2023 showed a record loss of £1.04 billion pounds.[34]

Turner's "excessive pay has been critiqued a number of times, most recently in 2022[35] and 2023.[36]

Personal life[edit]

Turner's hobbies comprise playing the guitar, drawing comics and walking dogs; he lives in Malmesbury.[37]

References[edit]

  1. ^ "The Board". Introducing our Board and Executive Team | NFU Mutual. Retrieved 2023-12-01.
  2. ^ Scott, Katie (2020-10-02). "NFU Mutual confirms new group chief exec as Sinclair steps down". Insurance Times. Retrieved 2023-12-01.
  3. ^ NFU Mutual Accounts published 2023. Available from https://www.nfumutual.co.uk/globalassets/about-us/agm/agm-2023/reports-and-accounts-2022.pdf
  4. ^ "Nicholas James TURNER personal appointments - Find and update company information - GOV.UK". find-and-update.company-information.service.gov.uk. Retrieved 2023-12-01.
  5. ^ "Where Are They Now?" (PDF). The Old Redingensian (2009). 2008.
  6. ^ Wallace, Mia (October 1, 2020). "NFU Mutual's group chief executive announces impending retirement". Insurance Business. Retrieved 1 December 2023.
  7. ^ "THE PILLARS OF TRUST". The Journal Magazine. 2019-09-04. Retrieved 2023-12-01.
  8. ^ "NFU Mutual recruits former Axa boss - Insurance Age". www.insuranceage.co.uk. 2013-04-23. Retrieved 2023-12-01.
  9. ^ "People moves: facing the funds fallout music, CS changes chairs, and more - Risk.net". www.risk.net. 2021-04-07. Retrieved 2023-12-01.
  10. ^ "NFU Mutual names Nick Turner CEO with Lindsay Sinclair set to retire - Insurance Post". www.postonline.co.uk. 2020-10-05. Retrieved 2023-12-01.
  11. ^ "New appointment at NFU Mutual". The Westmorland Gazette. 2021-03-24. Retrieved 2023-12-01.
  12. ^ "ICMIF Board". International Cooperative and Mutual Insurance Federation. Retrieved 2023-12-01.
  13. ^ "Speech by the Director General: Our Mutual Friend | ABI". www.abi.org.uk. Retrieved 2023-12-01.
  14. ^ "CW Champions - Autumn Meeting | Coventry & Warwickshire Champions". www.coventry-warwickshire.co.uk. Retrieved 2023-12-01.
  15. ^ "SII Lecture - Personal Development". www.localinstitutes.cii.co.uk. Retrieved 2023-12-01.
  16. ^ "Interview: Nick Turner, NFU Mutual - Insurance Post". www.postonline.co.uk. 2021-06-02. Retrieved 2023-12-01.
  17. ^ "CII appoints Nick Turner as board president". www.professionaladviser.com. 2019-06-26. Retrieved 2023-12-01.
  18. ^ "CII president video streams speech as coronavirus restrictions hit - Insurance Age". www.insuranceage.co.uk. 2020-03-13. Retrieved 2023-12-01.
  19. ^ "THE PILLARS OF TRUST". The Journal Magazine. 2019-09-04. Retrieved 2023-12-01.
  20. ^ "BUILDING TRUST TOGETHER". The Journal Magazine. 2019-09-04. Retrieved 2023-12-01.
  21. ^ Writer, Staff (2020-04-16). "Chartered Insurance Institute extends president, chair term amid COVID-19 - Reinsurance News". ReinsuranceNe.ws. Retrieved 2023-12-01.
  22. ^ Wallace, Mia (Apr 15, 2020). "CII makes president decision amid "unprecedented scenario"". Insurance News.
  23. ^ Wallace, Mia (October 8, 2020). "CII appoints Aon UK CEO as president". Retrieved 1 December 2023.
  24. ^ "PFS names NFU Mutual's Nick Turner as president". www.professionaladviser.com. 2016-09-14. Retrieved 2023-12-01.
  25. ^ Marriner, Katie (2016-09-15). "PFS names NFU Mutual's Nick Turner president". Money Marketing. Retrieved 2023-12-01.
  26. ^ "PFS appoints London IFA as new president". citywire.com. Retrieved 2023-12-01.
  27. ^ "New PFS president to drive 'evolution of the society'". www.ftadviser.com. Retrieved 2023-12-01.
  28. ^ Wilson, Jacqueline (2016-09-16). "NFU Mutual's Nick Turner is new Personal Finance Society President - IFA Magazine". ifamagazine.com. Retrieved 2023-12-01.
  29. ^ Cornish, Philip (2019). "Minutes of AGM 2019 of National Association of NFU Group Secretaries"
  30. ^ Chartered Institute of Insurance (May 2020). "Podcast: 'Ways to maintain trust during the coronavirus outbreak'". CII Podcast.
  31. ^ Austin, Sue (31 January 2022). "Shropshire businesses join joint claim again insurance company over Covid policies". www.shropshirestar.com. Retrieved 31 January 2022.
  32. ^ Guiao, Micah. "NFU Mutual hit with 'letter before action'". www.insurancebusinessmag.com. Retrieved 2022-02-02.
  33. ^ "CRR Case Summaries and Entity-specific Press Notices | Financial Reporting Council". www.frc.org.uk. Retrieved 2023-04-08.
  34. ^ "Company Information". Read our Company Information here | NFU Mutual. Retrieved 2023-12-01.
  35. ^ "Big jump in profits at NFU Mutual". www.farmersjournal.ie. Retrieved 2023-12-01.
  36. ^ https://www.pressreader.com/uk/the-scottish-mail-on-sunday/20230507/282815015577818. Retrieved 2023-12-01 – via PressReader. {{cite web}}: Missing or empty |title= (help)
  37. ^ Charter Institute of Insurance website. Deputy President 2018/19 CII President nomination paper. Available from: https://www.ciigroup.org/media/10121307/nick-turner.pdf
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