OSLO: As of today, October 26th 2020, Niclas Ward (49) has been appointed CEO of Insr Insurance Group ASA.
Mr. Ward has about twenty years of insurance experience from high-level positions at If P&C, and more recently as CEO for Trygg-Hansa. He currently runs his own advisory business and acts as senior advisor for the Boston Consulting Group.
As a member of the Board of Directors of Insr since May 2020, he has gained in-depth knowledge of the company. To comply with Norwegian law, Niclas will leave the Board of Directors due to the assignment as CEO.
“The Board is very satisfied that Niclas with his strong track-record has accepted the role as CEO and will take on the task of completing the ongoing close-down of the insurance operations. The Board is confident that he will be able to find the best possible solution for the company,” says Øystein Engebretsen, Chairman of Insr.
“Moreover, we would like to thank Espen Husstad for contributing to this attempt at building an insurance challenger. Following the unexpected regulatory situation, he has made a great effort to find the best solution with all stakeholders in mind,” continues Mr. Engebretsen.
“After closing the Store brand transaction and securing new opportunities for half of the colleagues from November 1st, this is a good time to step down. I am grateful to Insr. As a continuing shareholder I have trust in the ongoing process under the leadership of Niclas, and the work of all my good colleagues,” says Espen Husstad.
Niclas Ward comments his new role: “This is of course a special situation in which to step into the role as CEO, and I have a great respect for this. There is still a lot of important work to be done to secure the interests of customers, employees, and shareholders. I will do my very best together with the staff of Insr to secure the best possible development going forward”.
Insr is regulated by the Norwegian FSA (Finanstilsynet) and has a license for all groups of non-life insurance, except for credit and guarantee insurance.
Insr Insurance Group ASA was established in 2009 and is an independent insurance group listed on the Oslo Stock Exchange, with headquarters in Oslo. The company’s focus is on the market for property and casualty insurance for the retail and small enterprise segments in Norway. Insr distributes its products mainly through partners and insurance agents.