UK protection and health insurer The Exeter has announced the appointment of Michael Payne as commercial director.

Payne joins The Exeter from KPMG, where he served as a director in the insurance consulting practice and brings with him over 30 years’ experience in the insurance, asset management and wealth management industries.

In his time in various C-suite financial services positions, Payne has led complex transformation projects including the delivery of a £400bn asset programme for a FTSE 100 composite insurer, and digital transformation programmes for other FTSE 100 companies. He has also helped develop the actuarial aspects of a c£50bn annuity business and has led large teams across financial reporting and operations.

Payne currently holds a role as non-executive director at Glasgow Clyde College, and previously held NED roles at M&G Wealth Advice Ltd, Prudential International Assurance and was a member of Prudential’s IGC (Independent Governance Committee).

He will join The Exeter’s main and executive boards to help deliver the mutual’s future growth strategy.

Isobel Langton, CEO at The Exeter, said: “I am pleased to welcome Michael to The Exeter at what is an exciting time for our business. His wealth of knowledge and experience make him a valuable addition to both The Exeter’s Board and our wider leadership team.

What’s more, Michael’s customer focus and passion for the mutual sector align perfectly with our values, and he will play a key role in helping us to deliver our future growth strategy.”

Payne added: “Looking back on my career some of my most enjoyable and rewarding experiences have been whilst working in the mutual sector, particularly my time at Scottish Friendly. I’m therefore excited to be joining The Exeter at a time of market leading transformation, and I am looking forward to working with Isobel and The Exeter teams to deliver our long-term growth aspirations for the benefit of our members and advisers.”