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Hannover Life Re appoints new BDM

Hannover Life Re has appointed Andy Johnston as business development manager for its UK team.

Johnston, former HSBC employee, will now manage the reinsurer’s client relationships, focusing on innovative solutions and new market opportunities.

Hannover Life Re head of business development Paul Casey says: “Andy is a well known market figure and a tremendous addition to the team. His direct market and reinsurance experience across a number of client and consumer facing disciplines will help us better understand the challenges our clients face and work with them in developing effective, bespoke solutions.

“Andy will help us bring something extra to the table.”

Gen Re meanwhile has said goodbye to its former managing director John Instance, who has left the reinsurer. Gen Re declined to comment on his departure.


FSA picks Suisse’s Norris as COO

The FSA has appointed Mark Norris as its new chief operating officer, taking over from David Kenmir, who is leaving in April. Norris has 25 years experience in the industry, most recently as COO of Credit Suisse’s UK private banking business.

NAPF calls on Govt to prop up the PPF

The National Association of Pension Funds has called on the Government to guarantee any levy above the current £675m falling on the remaining final salary schemes.

Bonuses boosted and £10m for pay rises

Staff bonus levels at the FSA have been increased from 12 per cent to 15 per cent. The regulator has also added £10m to increase staff salaries so they are level with industry norms. A spokesman says: “We have put aside up to £10m to support moves to create more effective supervision. There are some staff working here who are being paid less than the accepted level paid in the wider industry so this money is for salary increases, not bonuses.


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