Ripe, a Manchester, UK-based provider of digital insurance products, appointed Alan Thomas, the former UK CEO at Simply Business, as new CEO.
Thomas succeeds Paul Williams who, after almost eight years as CEO at Ripe, is moving to a Non-Executive Director (NED) role at the company. Founder and Managing Director John Woosey will also move to a NED role. Following 15 years of double-digit growth, both executives will transition to advisory roles to continue supporting the business.
Thomas’ appointment is subject to regulatory approval and, in the interim, Williams will continue as CEO and then work with Thomas to ensure a smooth transition.
Ripe provides small businesses and consumers with digital insurance products built for the modern world. The company currently serves over 360,000 policyholders, offering hyper-targeted insurance solutions across 20 different products.
The appointment is the second major addition in recent months, after Jamie Richards’ joined the organisation as Head of M&A. In 2022, private investment firm Aquiline Capital Partners LP acquired a majority stake in the company. Since then, Ripe has increased its policyholders and completed its first acquisition. Following the acquisition of Craftinsure, this appointment reflects the importance of M&A in Ripe’s future expansion plans.
FinSMEs
03/09/2024