Sir Don Curry will step down as Chairman of NFU Mutual at the end of the year after 14 years with the UK’s leading rural insurer.

Richard Percy, NFU Mutual Vice Chairman, has been elected to the role of Chairman from January 2012.

Sir Don will be leaving the Mutual in good shape as a successful and growing insurer – it is the UK’s 15th largest insurer with more than 1 million policies and £12 billion of assets under management, a very strong balance sheet and a business widely acknowledged for the high quality of its customer service.

Following his retirement, Sir Don will concentrate on his new role as a Crossbench Peer in the House of Lords, which was announced in September. Sir Don will also continue with his other commitments which include a wide range of posts in public office and agricultural business.

Reflecting on his term at NFU Mutual, Sir Don said: “It has been a huge privilege to have served the Mutual over the last fourteen years with eight of those spent as Chairman. I am extremely proud of the company’s heritage and I am delighted to have seen NFU Mutual through its centenary year in 2010 – a very significant milestone in the history of any business.

“NFU Mutual has been a significant part of my life. I am honoured to have played a small part in its success and will keep a keen interest in the future developments of the company.”

Lindsay Sinclair, Group Chief Executive of NFU Mutual, said: "Under Sir Don's chairmanship NFU Mutual has flourished and he has played an integral part in the significant growth and development of the business through challenging times. I would like to thank him for the critical part he has played in the company’s success. 

"With his farming background, wide experience of rural business and commitment to our philosophy of providing outstanding value and a local service to members, I am certain Richard will continue this good work as Chairman and I very much look forward to working more closely with him."

Mr Percy joined the NFU Mutual Board in 2003 and became Vice Chairman in 2008. He previously held a number of roles at the National Farmers Union (NFU), most recently as a Member of the NFU Council and also as an NFU County Chairman.

He lives in Bovingdon in Hertfordshire where he has farmed for more than 25 years. Mr Percy also manages an arable and livestock farm in Buckinghamshire. Until 2009 he was a member of the Board of the Environment Agency and remains committed to environmental issues.

Commenting on NFU Mutual’s history and his new role, Mr Percy said: “NFU Mutual’s connection with farming and the rural community remains as strong today as it ever did. Sir Don has been an exemplary Chairman and I am delighted to be taking up the reins.”

A Vice Chairman will be announced in due course.