Winterthur Life is planning to bisect its management structure from January 1 to help growth in its new IFA-focused insured pensions business.
The provider believes the new scheme, yet to be confirmed, will further help the growth in the sector, which saw a 26 per cent increase in Q3 2005 to 1.209bn single premium equivalent against 956m in the same period last year.
Winterthur says it will introduce separate management teams – one to focus on IFAs and one to look at the traditional business, aiming to maximise opportunities in both areas.
Winterthur chief executive Mike Kellard says: The sustained growth demonstrates the success of Winterthurs strategy over the past five years and provides a strong platform on which to build for the future. By introducing two separate management teams, each focusing on key strengths and needs for each part of the business, Winterthur will be able to maximise growth and profit opportunities for the future.