Old Mutual Group Merges European Businesses

The new team will be headed up by Hein Donders, who will be assisted in the first few months by Jonas Jonsson who is currently the CEO of retail Europe. Once the new unit has been established Jonsson will move across to a different role within the company.

Ed Hyde a finance recruitment specialist for the UK and European life and annuity market with insurance recruitment specialist High Finance Group commented, "The latest news from OMG is part of an industry wide pattern of consolidation and cost savings, which has affected other leading life insurers including Prudential, Aviva, Phoenix and AdminRe. We believe that changes in the life insurance industry will drive upwards the standards expected of employees and people who build their career in this sector. Actuaries and reporting accountants with EEV knowledge are in exceptional demand."

Paul Hanratty, the CEO of Old Mutual Group said, "We concluded that the affluent long-term savings and investment market in Europe is attractive for Old Mutual."