Digital group insurer Ellipse, a Munich Re (Group) subsidiary, has appointed Lee Lovett as new CEO.

Lovett succeeds John Ritchie, who will leave the business on September 14.

John Ritchie has led the business since its launch to the UK market in 2009, overseeing a strong, sustained period of growth, with Ellipse now an established insurer in the sector, leading its peers in technology use and customer service.

On his time at Ellipse, John Ritchie commented: “There is a great team at Ellipse and we have built a market leading digital platform that enables advisers to do group life and disability business economically in all segments. Personally and professionally I have loved almost every day of it.

“Thanks to all the advisers – particularly the early adopters – who have been prepared to recommend us and try doing this business a bit differently. The past tense in this only applies to me – the future is very bright for this business and this terrific group of people.”

Lee Lovett has been appointed by Andy Batley, Head of UK & Ireland Life at Munich Re, to lead Ellipse into the next stage of its development as it looks to further grow the business from its strong, established position in the UK employee benefits market.

On his appointment Lee Lovett, who will be leaving his position as head of business development at Munich Re to join Ellipse said, “I am delighted and feel privileged to be given the opportunity to lead the Ellipse business, and look forward to continuing the good work that John and the team have done in growing the business.”

Lee Lovett has been with Munich Re for eight years, and brings a wealth of experience to the business from many previous roles in the UK life and disability insurance sector. He is already well known in the group risk industry as chairman of the industry body GRiD.