Lloyds Banking Group restructures insurance division

by Gill Montia

Story link: Lloyds Banking Group restructures insurance division

Lloyds Banking Group is bringing its life, pensions and investment business under a new management structure.

The move forms part of an integration programme within the bank’s insurance division and has prompted the following appointments.

Deputy group chairman, Lord Leitch, will become chairman of the division and Archie Kane will continue as deputy chairman and group executive director, insurance.

Phil Loney will move from managing director general insurance to become managing director life, pensions and investments, reporting to Archie Kane.

Andy Briggs, currently managing director of Scottish Widows, will take up the post of managing director general insurance, also reporting to Mr Kane.

The group’s current life, pensions and investment finance director, Jim McConville, will be replaced by Kerr Luscombe at the end of March.

Mr Luscombe joins from Pearl Assurance, where he is currently general manager.