Xenia Broking Group Limited (XBGL), a Brown & Brown group company, has announced the appointment of Steven Stennett as Chief Executive Officer (CEO), taking over the role from Tim Coles.
Stennett brings to his new role over 25 years of experience in the trade credit insurance sector, holding leadership roles in business development and account management at country and international levels.
He joins XBGL from Allianz Trade UK and Ireland, where he most recently served as Commercial Director, leading the commercial distribution, marketing and commercial underwriting teams to deliver profitable growth.
The executive started his career with Atradius, followed by Coface where he led commercial teams across the UK and Western Europe.
Stennett, CEO of Xenia, said: “The ambition of the team and the quality of the people made my decision to join the business extremely easy. Xenia has an outstanding reputation for the experience, differentiation and relevance it brings to its client base.
“I am delighted to have the opportunity to lead the business’ onward development. There are exciting opportunities in the market for nimble, forward-thinking companies like Xenia which excel in providing the highest levels of service and specialisation for its customers. I am very much looking forward to being part of that journey.”
He will succeed Tim Coles, who has been appointed to a key group leadership position as Chief Executive Officer for the international operations of Bridge Specialty Group, the wholesale brokerage segment of Brown & Brown.
According to the announcement, Coles will remain with Xenia as Chairman, with current Chairman, Jeremy Adams, stepping back from the business, having held the position since early 2019.
Mike Bruce, CEO of Brown & Brown (Europe), commented: “Xenia is a highly successful specialist broker that goes from strength to strength – delivering consistently strong financial results while continuing to grow its UK regional footprint and diversifying its product offering.
“I am delighted to welcome someone of Steven’s calibre and experience to lead the team. His deep understanding of the trade credit insurance market and proven leadership qualities make him ideally suited to lead Xenia through the next chapter of its evolution.”
