News / Business
Bristol insurance company suspends Chief Exec
The chief executive of one of Bristol’s largest insurance companies has been suspended following an internal audit.
DAS UK announced that Paul Asplin is on full pay while an investigation takes place.
Bob Screen, head of marketing said: “DAS UK announces that Paul Timmins, chief operating officer, has been appointed acting CEO. He replaces Paul Asplin who has been suspended following an initial internal investigation.
is needed now More than ever
“A full investigation will now be conducted with the support of an independent firm.”
Mr Screen added: “The relevant regulators – including the FCA, the PRA and the SRA – have all been informed and we will keep them abreast of developments.”
Based in Temple Meads DAS employs more than 500 people in Bristol.
Mr Screen said: “The financial strength of the business and the service which DAS provides to its clients is not affected.”
No connection
Sources within the company say they believe Asplin has been suspended over concerns about his relationship with a former service supplier to the insurer and it was picked up during a routine internal audit.
Ernst & Young has been appointed to investigate independently although it is not know how long the investigation will take.
Bristol 24/7 has been told that two other staff, who were suspended earlier this month, are not connected with the investigation into Mr Asplin.
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