Insurance firm Markerstudy Group has announced the appointment of Scottish corporate veteran Benny Higgins as its chairman.

Markerstudy said the appointment concludes a busy first quarter in which it welcomed investment from new partners Pollen Street Capital and Qatar Insurance Company and announced it had acquired Brightside Group.

Higgins was CEO of Tesco Bank for 10 years and was also a leading executive at RBS-NatWest, HBOS and Standard Life — and has been Strategic Advisor to the First Minister of Scotland on the creation of the Scottish National Investment Bank.

Markerstudy is best known for its association with insurance brands Markerstudy Insurance, Zenith Insurance and Zenith Marque as well as direct brands Geoffrey Insurance Services, Supercover Insurance and The Insurance Factory.

A rapidly expanding privately-owned business, Markerstudy employs 4,000 staff in locations throughout the UK.

Markerstudy CEO Kevin Spencer said: “We are steering Markerstudy Group on an exhilarating growth trajectory and due to our size, diversity, and speed of acceleration, it’s the optimum time to invite a chairman on board to complement the skills of my existing board of directors.

“Benny has vast financial sector experience, coupled with a social and philanthropic conscience, and it’s these combined attributes which attracted us to him, and which align so well with our plans for the future.”

Higgins said: “I am thrilled to be joining Markerstudy Group at such a pivotal moment, and appreciate the opportunity to provide counsel.

“Post-pandemic, the ‘new’ normal which Markerstudy is wholeheartedly embracing includes a deeper understanding of an organisation’s impact on the environment, and its social and governance principles.

“ESG is a top priority for Markerstudy, and I am passionate about supporting change for improvement across my non-executive portfolio.”