Tesco Insurance and Money Services has appointed Craig Bundell as chief executive officer following its split from Tesco Bank. Tesco recently agreed a ten-year deal with Barclays to offer banking products under the Tesco brand, while retaining ownership of its Insurance and Money Services arm.

Tesco Insurance and Money Services home, travel, pet and car insurance. Bundell was previously chief banking officer and Tesco Bank.

He said: “I’m delighted to take on the role of CEO, working with an incredible team of skilled colleagues who go above and beyond to provide our customers with excellent products and services. Building on the tremendous progress we’ve made as part of Tesco Bank we now have an incredible opportunity to continue to deliver for our customers as Tesco Insurance and Money Services.”

Ashwin Prasad, chief executive officer for Tesco UK, added: “Craig and his team have worked hard to grow the business and deliver for customers, and are now laser-focused on making IMS the go-to provider of Insurance and Money Services for our customers.”