Admiral Group has announced that Cristina Nestares is stepping down as chief executive of its UK Insurance business.

Alistair Hargreaves, currently the deputy chief executive of UK Insurance, will succeed her in the role, subject to regulatory approval.

Hargreaves joined Admiral in 2008 and has held a number of senior roles including chief operating officer of UK Insurance before being appointed deputy chief executive of UK Insurance in 2022. In this role, Alistair had overall responsibility for key customer-facing functions, including operations and claims, and leading the product diversification strategy.

Nestares joined Admiral to set up the group’s Spanish business in 2005 and has been in her current role since 2016. She steered the business through the pandemic and the last insurance cycle.

Admiral said that Nestares is stepping down as she feels now is the right time for her and her family to spend more time in her native Spain.

“Cristina has a long history of commercial success and leaves behind a business in great shape,” said Milena Mondini de Focatiis, chief executive officer of Admiral Group. “We have a talented leadership team, and this is consistent with our strong track record in succession planning and internal talent management.”

“Alistair’s significant leadership experience and extensive knowledge of our customers, colleagues, products and strategy make him the best person to lead this business. The Board, the management team and I look forward to working even more closely with Alistair to execute our current plans as we continue to deliver for our growing customer base.”

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