Partnership, a leading UK provider of enhanced and long term care annuities, has appointed Richard Willets as Director of Longevity. Richard is considered one of the leading experts in the UK and is a regular author of research in the field.
He joins Partnership from Friends Life where he was Director of Longevity, a role he has filled since July 2011. Prior to that Richard was Longevity Director at Paternoster, the pension buyout specialist and ran Willets Consulting which specialised in research into this area and whose clients included many of the UK's leading insurers, reinsurers, consultancies, banks and regulatory authorities.
Richard has also chaired the working party of the Actuarial Profession which produced the CMI projection model, now a widely-used benchmark in the life assurance and pensions industries.
Partnership was the first company to offer impaired annuities in the UK market and boasts over 18 years of proprietary data on the impact of medical and lifestyle issues on longevity. Richard will report to Partnership’s Chief Financial Officer, David Richardson, and work closely with the company’s Research and Development team to further develop its pricing and risk management techniques.
David Richardson, Chief Financial Officer at Partnership, said:
“Richard is recognised across the insurance industry as one of the UK’s leading experts in longevity. His recruitment is a sign of our commitment to further develop our market-leading research and development capability.”
Richard Willets, Director of Longevity at Partnership, said:
“Partnership has unparalleled experience in the enhanced annuity sector. I am delighted to join a company that has an extensive mortality database and key intellectual property in the underwriting of retirement and care annuities.”
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