AND-E, a mobility insurance provider, has announced the appointment of motor insurance finance specialist, Jon Hermon, as Group Chief Finance Officer.
Reporting to Michael Kainzbauer, AND-E Group CEO, Hermon will lead the finance teams across Europe, building on the existing finance infrastructure to support the company’s strategic ambitions.
In his new role he will work closely with the finance leadership teams across all European divisions, creating shared objectives that take account of local market conditions and opportunities.
“The AND-E business has achieved a strong growth trajectory over the last few years, both organically and through acquisition”, explained Michael Kainzbauer, Group CEO, AND-E. “It is now critical that we capitalise on economies of scale while still responding to local market opportunities.
He continued: “I am, therefore, delighted that Jon Hermon has agreed to take up the role of Group Chief Finance Officer. He will help shape and build our finance infrastructure to ensure it is fit for purpose to support our future strategic ambitions.”
Hermon has worked in the motor insurance sector for over 20 years in a variety of finance roles, including more than 15 years with Hastings Insurance Group as well as roles at Freedom Services Group and First Central Group.
He was a key member of the Hastings Insurance management team that led the buyout in 2008 and which saw subsequent sales and a London Stock Exchange floatation.
Hermon has been with the AND-E Group since 2021, when he joined as a consultant, and has been involved in designing and implementing a financial infrastructure to support its profitability and growth objectives.
Commenting on his appointment, Hermon said: “I am incredibly excited to be joining the AND-E Group board at this time to build an agile finance infrastructure that will effectively drive and support our strategic direction and deliver the expected return to our shareholders. The job of finance is to provide the controls and insights for the right business actions, and I am looking forward to building on the systems and processes already implemented to further strengthen our finance infrastructure.
“There is already a wealth of experience of the AND-E business as well as financial expertise in the local market finance teams that puts us in an exceptionally strong position. I believe, with common processes, tools and ambitions, finance can really support the performance of the AND-E Group.”
