Pinnacle Insurance has expanded its investments team to coincide with the launch of its Safe Haven B...
Pinnacle Insurance has expanded its investments team to coincide with the launch of its Safe Haven Bond, a structured product linked to corporate bonds.
Pinnacle has promoted Kathy Byrne as managing director of its investment division which specialises in investment bonds. It has also recruited James Price as product development manager. Pinnacle currently focuses on Guaranteed Income Bonds distributed via the intermediary and direct market.
The Pinnacle Safe Haven Bond is designed to pay annual income of 4% for investments under £50,000 and 4.1% for £50,000 or more. Growth options pay 17% or 17.5% at the end of the four-year term. The bond launched on 11 November and closes to subscription on 6 December 2002, or earlier if fully subscribed.
Byrne was involved in the conception and development of guaranteed equity bonds while at Citibank. She joined the BNP Paribas-owned Pinnacle in 1994 where she was group actuarial director. Price qualified as an actuary in South Africa specialising in UK investments while working for RGA Reinsurance.
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