CompaniesApr 24 2014

Scottish Widows ‘excited’ about UK retirement market

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Scottish Widows has appointed Stuart Paton Evans to a newly created director level role in the annuities and retirement market.

Mr Evans, who starts his new role on 6 May, has almost 25 years of experience in the insurance industry, covering customer insight, business development and driving growth in annuities and protection.

Previously, Stuart has held senior roles at Hannover Re, Swiss Re and GE Insurance Solutions.

Reporting to Richard Jones, Scottish Widows’ director of annuities, bancassurance and protection, Mr Evans is tasked to spearhead growth and the development of new retirement income solutions covering annuities, income drawdown and other at-retirement options.

His appointment comes in the wake of major changes to the market announced at last month’s Budget, which are expected to dramatically reduce the size of the annuities market and could lead to more savers choosing alternative income options such as buy-to-let property investments.

Mr Jones said: “I am delighted to welcome Stuart to Scottish Widows and his in-depth experience, expertise and knowledge will be integral in helping us achieve our ambition of being the leading player in the at retirement market.

“We are very excited about the prospects for the UK retirement market, and following the recent Budget changes, we are focussing on developing our range of solutions for customers both in annuities and drawdown.”