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NU chief points to value of actuary training

Qualifying as an actuary prov-ided valuable insights into bringing investment products to market for Norwich Union head of investments product development Neil Davies.

Davies joined NU’s actuarial graduate scheme in 1990, with the early part of his career placing emphasis on professional exams. He benefited from secondments to valuation and special quotations departments as well as product development.

His last role as a graduate was as a junior actuary in the pricing side of the business, which he feels provided a natural progression into a more commercial sales and marketing role.

Davies says: “I gained insights into how the market works and what a customer needs from working as an actuary. I developed a large network of people to call upon.”

Davies’ early work in product development included dev-eloping a with-profits income fund. Since then, he has been involved in NU’s move away from a with-profits focus.

He says his understanding of how to make products more marketable has been key to his success in developing the firm’s balanced distribution fund and structured products as well as external fund links for the multi-manager range.

Davies says: “Moving towards transparency around with-profits and also moving into the multi-manager space, my und-erstanding of the market has been crucial in my negotiations with fund managers and within the business to get these projects off the ground.”

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