Peter Wood (businessman)
Sir Peter John Wood
Business
Direct Line
In 1985 Sir Peter launched
He left Direct Line in 1997,[4] but continued to work with the Royal Bank in other areas, including Privilege, an insurance company specialising in lower-risk customers which had been founded in 1996.[15] Whilst running Direct Line, Wood founded Línea Directa Aseguradora (LDA), a direct motor insurer in Spain, through a joint venture between RBS and Bankinter.[16] LDA listed on the Madrid stock exchange in April 2020 with a market valuation of €1.434bn euros.[17]
esure
In 1999 Wood founded
In February 2010, Wood led a management buy-out of esure, subsequently leading the floatation of esure Group plc on the London Stock Exchange on 27 March 2013.[25] esure staff received a £3m payout at the time.[26] In August 2018, esure announced that it was to be acquired by Bain Capital for £1.2bn.[27] Wood remained as Chairman of esure until March 2020 when he stepped down from the Board.
GoCo Group
Sir Peter Wood was also chairman of price comparison website
Other
Wood also set up two insurance companies in the United States, Response (1995) and Homesite (1997), although his involvement with both of them came to an end in 2004.[4] He is a Director and shareholder in American insurer The Plymouth Rock Company.[30]
From 1996 to 2000, Wood was a non-executive director of the holding company British Gas and the Automobile Association.[31] In 1998, he was appointed as a non-executive director to the Board of the Economist, where he serviced until March 2004.[32]
Wood is an established investor in property. Developments include the former headquarters of BBC Radio in Marylebone, London[33] and properties in Palm Beach, Florida.[34]
In 2021, Wood founded the investment vehicle, SPWOne.[35]
Philanthropy
He was appointed a director of the Princess Royal Trust for Carers in 1994 and served for three years until he moved to found The Croydon Colorectal Cancer Charity with Mr Ian Swift, Consultant Surgeon at Mayday Hospital, Surrey.[36]
Wood is the biggest donor to prostate cancer research at UCL Hospital in London, where he has funded the latest radiology equipment and sponsors a leading professor.[37] Wood also funded equipment enabling UCL to conduct research in the immune response detectable from the blood of Covid-19 patients.[38]
Footnotes
- ^ a b Stevenson, Rachel (30 June 2003). "Seventh heaven for the man who started Britain's telephone insurance revolution". The Independent. Archived from the original on 3 April 2009.
- ^ "No. 61608". The London Gazette (Supplement). 11 June 2016. p. B2.
- ^ "Rich List 2021". The Sunday Times. London. May 2021.
- ^ a b c d "Esure boss just won't calm down". The Times. London. 11 April 2004.
- ^ Griffiths, Katherine (27 April 2002). "Peter Wood helps fund Cox cash call". The Independent.[dead link]
- ^ "Our Story". DLG Corporate Corporate Website. Retrieved 6 August 2021.
- ^ Parkinson, Gary (2 April 2000). "Wood poaches chiefs". The Daily Telegraph. London. Archived from the original on 16 September 2004. Retrieved 11 October 2021.
- ^ "About us: Milestones". Direct Line Insurance.
- ^ The Sunday Herald.
- ^ ISBN 0-631-21145-4.
- ^ Ringshaw, Grant (20 February 2000). "I'm coming out to play". The Daily Telegraph. London.[dead link]
- ^ a b "Royal Bank? It's trebles all round the board". The Guardian. London. 14 March 2001.
- ^ "Highest paid director gets 900 times more than his average employee". The Independent. 14 September 1995. [dead link]
- ^ "Succession at Direct Line Group". PR Newswire. 25 June 1997.
- ^ "Línea Directa: el experimento de la venta telefónica de seguros llama a la puerta del Ibex". El Español (in Spanish). 19 December 2019. Retrieved 6 August 2021.
- ^ "Spanish insurance company LDA jumps 30% on Madrid market debut". Nasdaq. 29 April 2021.
- ^ "About esure". Esure. Archived from the original on 16 October 2008.
- ^ "Halifax to offer online insurance". BBC. 17 February 2000.
- ^ Stevenson, Rachel (26 June 2003). "Peter Wood tackles higher risk cars market". The Independent.[dead link]
- ^ "The First Alternative for Higher Premium Motorists" (Press release). Esure. 22 October 2003.
- ^ Out-Law.com (5 July 2007). "Direct Line squashes esure's mouse on wheels". The Register.
- ^ Toulmin, Carolyn (23 July 2008). "esure Insurance Ltd v Direct Line Insurance plc (2008) EWCA Civ 842; (2008) WLR (D) 252". Archived from the original on 4 August 2008.
- ^ "Peter Wood and HBOS launch 'Sheilas' Wheels' brand to shake-up car insurance for women" (Press release). Sheilas' Wheels. 19 September 2005. Archived from the original on 7 January 2009.
- ^ "esure in £1bn London Stock Exchange Float". LSEG. Retrieved 6 August 2021.
- ^ "Esure staff to share £3m bonanza after insurance firm's flotation". the Guardian. 8 March 2013. Retrieved 6 August 2021.
- ^ "Important Disclaimer | esure Group plc". www.esuregroup.com. Retrieved 6 August 2021.
- ^ "Gocompare and insurer Esure to split". BBC News. 13 September 2016. Retrieved 6 August 2021.
- ^ "Go Compare buys Dragons' Den energy switching business". Energy Live News. 26 July 2019. Retrieved 6 August 2021.
- ^ "The Plymouth Rock Company 2020 Annual Report" (PDF). The Plymouth Rock Company. 8 February 2021.
- ^ "StackPath" (PDF). www.centrica.com. Retrieved 10 August 2021.
- ^ "Proposed demerger of Gocompare.com" (PDF). esure Group plc. 13 September 2016.
- ^ Avis-Riordan, Katie (7 August 2017). "This Marylebone sub-penthouse for sale is in the old BBC Radio London HQ". House Beautiful. Retrieved 9 August 2021.
- ISSN 0307-1235. Retrieved 9 August 2021.
- ^ "Sir Peter Wood backs open finance platform Moneyhub | Business Leader News". Business Leader. 16 July 2021. Retrieved 9 August 2021.
- ^ "QUEEN'S BIRTHDAY HONOURS 2016 – HIGH AWARDS" (PDF). Gov.uk. 10 June 2016.
- ^ UCL (16 July 2019). "UCL Cancer Institute receives £1.875m gift from Sir Peter Wood CBE". UCL Campaign. Retrieved 6 August 2021.
- ^ UCL (2 August 2020). "Increased Complement Receptor-3 levels in monocytes and granulocytes distinguish COVID-19 patients with pneumonia from those with mild symptoms" (PDF). UCL. Retrieved 2 August 2020.