Royal London is appointing Philip Green as chair of its independent governance committee (IGC), taking on the role with immediate effect.
Green is currently a non-executive director and deputy chairman of Wesleyan Assurance Society and chairman of its with-profits committee.
Until 2013 he was responsible for the overall operations of the Life Insurance Market Research Associations (LIMRA) in Europe, the Middle East and Africa.
Between 1998 and 2005 he worked for AIG in the US and latterly Hong Kong, where he was executive vice president and chief agency officer of AIA, part of AIG and the largest life assurance operation in SE Asia. Green began his financial services career in 1980 with Sun Life of Canada UK which he joined after a decade in the Army serving with the Queen’s Own Hussars.
Royal London group chief executive Phil Loney says: “The creation of an independent governance committee is an important step in ensuring good outcomes are secured for all members of company pension schemes and that Royal London continues to offer good value for money. The IGC will be key in providing a level of independent assurance to scheme members and the appointment of Phil Green is an important step in establishing an effective committee.
“Phil’s next task will be to appoint the other independent members of his committee and establish their pattern of work. ”