Friday 20 December 2019 9:06 am

Insurer LV shifts focus to pension provision with new boss

Pension provider LV has today announced a new chief executive as it shifts its focus away from insurance to savings and retirement.

Mark Hartigan will move to the company from Zurich Insurance group. 

Current CEO Richard Downey this year lead the sale of LV’s general insurance division to Allianz and will step down at the end of the year.

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The sale marked the withdrawal of LV from a 2017 partnership with Allianz which saw the value of its insurance arm top £1bn.  

His last year in charge saw the firm focus on cutting costs and shifting the business to focus on its pensions division.

LV’s chairman, Alan Cook, said: “Mark Hartigan is the ideal candidate to lead LV as we begin life as a standalone life and pensions business.”

“He brings a wealth of knowledge of the life insurance market and has a strong track record of delivering financial success and business transformation in challenging and fast changing market conditions.” he said.

Pension provider LV has today announced a new chief executive, Mark Hartigan, who will move to the company from Zurich Insurance group. 

Current CEO Richard Downey this year lead the sale of LV’s general insurance division to Allianz and will step down at the end of the year.

The sale marked the withdrawal of LV from a 2017 partnership with Allianz which saw the value of its insurance arm top £1bn.  

His last year in charge saw the firm focus on cutting costs and shifting the business to focus on its pensions division.

LV’s chairman, Alan Cook, said: “Mark Hartigan is the ideal candidate to lead LV as we begin life as a standalone life and pensions business.”

“He brings a wealth of knowledge of the life insurance market and has a strong track record of delivering financial success and business transformation in challenging and fast changing market conditions.” he said.

Mark Hartigan said: “LV is a business I have long admired. As the company completes the sale of its general insurance business and starts 2020 as a focused life and pensions business it’s an exciting time to join.”

Hartigan has been with Zurich insurance group since 2009 where he most recently served as head of operations for Europe, Middle East and Africa. He previously held a number of senior roles in the British Army. 

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Mark Hartigan said: “LV is a business I have long admired.  As the company completes the sale of its general insurance business and starts 2020 as a focused life and pensions business it’s an exciting time to join.”

Hartigan has been with Zurich insurance group since 2009 where he most recently served as head of operations for Europe, Middle East and Africa. He previously held a number of senior roles in the British Army. 

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