Ex-Scottish Widows boss to join L&G

Toby Strauss, Scottish Widows

Former Scottish Widows chief executive Toby Strauss has been appointed to the board of Legal & General as a non-executive director.

Strauss will join the L&G board on 1 January, and will sit on the provider’s nominations, audit and risk committees.

Prior to working at Scottish Widows, Strauss has also held the role of chief executive of Aviva’s UK life business.

L&G interim chairman Rudy Markham says: “I am delighted that Toby is joining us. His many years of experience in the UK insurance sector further supplements the strength and balance of skills and experience of the board. I look forward to working with him.”

Toby Strauss said: “L&G is a fantastic company committed to supporting investment in UK infrastructure and the savings, insurance and retirement needs of their customers. I look forward to joining the board.”

It comes as L&G has announced it is on track to double its new business sales in its retirement division. Sales have reached £5.4bn, compared with £2.9bn for the full 2015 year.

New business has been driven by growth in pension derisking business and equity release.