Steve Payne has been appointed as managing director at Friends Life protection.
Payne, who was chief executive at Bupa Health Assurance, will be responsible for developing and implementing the strategy for all Friends’ individual and group protection business.
The firm plans to consolidate the individual protection propositions of Friends Provident, Axa Life and Bupa Health Assurance on to a single platform for new business.
Friends Life chief executive Andy Briggs says: “Steve Payne’s appointment underlines our plans for expansion in the protection market. We are fully focused on developing a single protection proposition for IFAs comprising the optimum elements of each of the three historic brands.”
Payne says: “The challenge is to ensure we develop something truly innovative for the market.”
Highclere Financial Services partner Alan Lakey says: “Steve’s appointment makes absolute sense. He took over at Bupa some years ago and, together with Steve Casey, transformed it from a reasonably good protection adviser into one of the very best ones. The very fact he is going to be controlling the new Friends Life set-up gives me great confidence that when they finally converge the two companies, the proposition they come up with will be a market leader.”