Just Group plc, has appointed Tom Bulpitt as Director of Pricing and Reinsurance for its high growth Defined Benefit De-risking business (“DB”), reporting to Pretty Sagoo, Managing Director.
Tom joins alongside two additional appointments: Richard Wood, who joins from Phoenix Group, and Andy Fryer, who joins from AON. Richard will lead (re)insurance execution and structuring and report to Tom Bulpitt. Andy joins as Head of Proposition Development, reporting to Rob Mechem, Director of DB Commercial.
Tom is a life actuary and joins from the European insurance consolidation group, Athora, where he led its work on capital strategy. In his new role at Just, Tom will lead the pricing and reinsurance function, optimising Just’s competitive positioning in this market, as well as the implementation of a cutting-edge pricing and reinsurance platform for the business. He joins at a time of significant growth in the DB market. In 2022 Just wrote the largest number of Bulk Purchase Annuity deals in the UK; maintaining its excellent record of service and quality for small pension schemes, whilst sustainably growing its appetite and capabilities for larger de-risking transactions.
Pretty Sagoo, Managing Director of DB Solutions at Just Group, said: “These three highly talented and experienced hires are great news for our fast growing DB De- risking business. Our business has never been stronger. We are delivering double digit growth and have an established platform and talented team. We are extremely well placed to compete successfully across all areas of the DB market, and to continue to take exceptional care of our members, securing their pension benefits in retirement.
“Tom brings with him a wealth of experience. His depth and breadth of expertise will be invaluable as we pursue our ambitious growth and proposition development agenda.”
Tom Bulpitt, Director of Pricing and Reinsurance, said: “This is a great time to be joining the team at a time of strategic growth in the business. The outlook for the market has never been stronger, with up to £60bn of risk transfer predicted for 2023. Just is very well positioned to build on its record year in 2022, when it transacted one-in-four of all deals in the market. I’m really looking forward to working with the team.”
Before Athora, Tom worked at Milliman UK for 10 years as an actuarial consultant. He has delivered and advised on reinsurance transactions across Europe with technical expertise in Solvency II and a strong focus on capital management, optimisation and asset and liability management.
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