Metlife's Grinstead takes protection helm at ABI

Metlife's Grinstead takes protection helm at ABI

Dominic Grinstead, the UK managing director at Metlife has been appointed chair of the ABI Protection Committee.

Mr Grinstead takes over from Russell Higginbotham of Swiss Re.

The ABI committee works to help the insurance sector to promote itself to consumers across the UK, as well as driving improved standards and "identifying and addressing potential risks".

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Mr Grinstead said he was "looking forward to working with fellow members, the ABI and other stakeholders to demonstrate the vital role that protection products play in our customers’ day-to-day lives”. 

He has been CEO of Metlife UK since 2009, and introduced the US business into the UK. The group started by offering investment and retirement products,  but last summer said it was quitting the wealth management and annuity business to concentrate on protection.

Mr Grinstead said at the time that low interest rates had made the group’s other business areas unsustainable.

“Whilst our wealth management products deliver good outcomes for our customers, the ongoing challenge of long-term low interest rates has made it difficult to deliver value for MetLife,” he said.

“After thorough analysis, we have decided to focus on our employee benefits and individual protection business.”