Aegon Ireland has promoted Barry Cudmore to managing director, assuming responsibility for the firm’s specialist unit-linked guarantees operation which sells into the UK, Germany and France.
He moves from being chief finance officer at Aegon Ireland and his appointment follows predecessor Simon Skinner’s three-year secondment reaching its end.
The company recently launched into the German market and claims to be a market share leader in the provision of unit-linked guarantees in the UK.
Mr Cudmore said, following UK pensions’ legislation changes, demand for alternative retirement income solutions has never been greater.
He said: “I have worked at Aegon since we first introduced unit-linked guarantees to this market, so to take on this role as unit-linked guarantees are increasingly seen as a more mainstream solution for retirees is both exciting and challenging.”
It has been widely touted that the sector is set to boom in the coming months ahead of sweeping changes that could push savers away from discredited annuities, with Partnership confirming it is looking at a launch and Prudential, among others, thought to be doing the same.
