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Otto Thoresen appointed ABI director general

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Otto Thoresen has been appointed ABI director general with Adrian Grace replacing him as chief executive of Aegon UK.

Thoresen has been chief executive of Aegon UK since 2005 and a member of the group management board of Aegon NV since 2007.

The ABI director general job has been vacant since Kerrie Kelly left in July 2010 after just six months at the helm. ABI director of life and savings Maggie Craig has been acting director general. Thoresen starts at the trade body next month.

Thoresen says: “I am incredibly excited about taking on this challenge and representing all parts of the insurance industry at this critical time. The insurance industry is facing very significant changes over the next few years and it will be vital that we punch our weight and contribute all we can to the challenges facing us.”

Grace says: “I am very pleased to have the opportunity to lead Aegon UK at such an important time for our business. I will continue with the strategy which the Aegon UK leadership team has introduced over the past twelve months.”

Grace, currently chief operating officer at Aegon UK, has previously held managing director roles at Sage Group, HBOS and Barclays Insurance.

Aegon announced last year it would reduce operating costs by 25 per cent by 2011, closing six of its 12 regional sales centres. In February it announced losses of £6m in the final quarter of 2010.

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Comments

There are 5 comments at the moment, we would love to hear your opinion too.

  1. Thank God he’s gone….AEGON was top dog in the IFA market when he took it over but is now looking like a loser; anyway,good luck to young Mr Grace !

    Thoresen is a clever man for sure , but probably better suited to regulation and the intellectual side of the business. Business creativity was never his strong point in my opinion, allegedly and without prejudice.

  2. who’d have thought Adrian Grace would be the CEO of a life company when he was starting his career at Leeds Permanent Building Society in the 80’s? Good on ya AG.

  3. Congrats to young Mr Grace. In six months will we be asking the IFA community: ‘are you being served?’.

  4. The ABI has been RDR positive but Otto has not, saying in his capacity as CEO of Aegon: “The RDR is only helping wealthy customers”

    I wonder his he will hold true to these colours in his ABI capacity?

  5. Please could you pass this message to Romina di ciacca and Brian Dixon of AEGON +((+ – *. ?23) 12″” !-( :2″5 *?*,4( .1″” -‘523 439(-+, (:322 +6 (:R .2,(*” :23″(: *9( *( 4@3-,/6-2″5 :+4@-(&” please send. Thank you *,-o*

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