Scottish Equitable is to create a specialist group risk team whose role is to provide IFAs with comp...
Scottish Equitable is to create a specialist group risk team whose role is to provide IFAs with competitive employee benefit pricing and underwriting solutions. The aim of the new team is to enable the company to provide IFAs with the best possible service in terms of competitive pricing and bespoke solutions to their clients' group risk requirements.
The new team will be headed by Rod McCarthy, who has been promoted to Group Risk Actuary, with responsibility for a team of four specialist scheme underwriters.
Scottish Equitable identifies Employee Benefits as a major area of growth. The company recently reported that it has written more group risk business in the first 6 months of 2001 than during the whole of 2000. It believes one of the key drivers for the explosion in the market is the introduction of stakeholder pensions - which is prompting many employers to implement broader employee benefits schemes alongside pension provision.
Scottish Equitable head of operations Iain Horn said: "The new team, led by Rod McCarthy will enable us to provide IFAs with a superb level of service in terms of pricing of group risk schemes and build on the considerable success we have achieved in this market already this year. We are delighted with our progress so far and confident that this initiative will give us a clear advantage in what is an increasingly competitive market."
Commenting on his new appointment, McCarthy said: "Obviously I'm delighted to be heading up a brand new team - and one whose success will be an important part of the development of the employee benefits business within Scottish Equitable. Increasingly IFAs are looking to provide their clients with bespoke solutions and the team has been created in response to their needs."
For further information IFAs should contact their local Scottish Equitable branch, or visit www.scottishequitable.co.uk/eb
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