Garthwaite will report directly to UK chief executive Otto Thoresen. He will be responsible for leading and developing risk strategy within the UK business.
Garthwaite was previously group risk and compliance director for Resolution plc from 2003 until it was acquired by Pearl Group in 2008. Most recently he was the CEO and founder of Assent Financial, a buy-out and restructuring vehicle targeting the mutual insurer and friendly society sector.
Aegon says he brings substantial experience in risk and regulatory management as well as in the delivery of change programmes.
Thoresen says: “I am delighted to announce the appointment of Charles as our new chief risk officer. His background and experience mean that he is well suited to lead our continued focus on embedding risk management across all aspects of our business. I look forward to working closely with Charles in further enhancing our risk management strategy within Aegon UK.”
Garthwaite says: “The current economic and regulatory environment means that effective risk management is now more important than ever for life insurers. I am delighted to be joining Aegon at this significant time for the industry.”