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Thoresen becomes Aberdeen Life chairman

Thoresen becomes Aberdeen Life chairman

Aberdeen Life has appointed ex-Association of British Insurers man Otto Thoresen as chairman.

He has been appointed to the company’s board along with David Hare, a former president of the Institute and Faculty of Actuaries.

Aberdeen Life is the unit-linked insurance subsidiary of Aberdeen Asset Management and it oversees £1.7bn on behalf of UK pension schemes.

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The pair have been appointed as independent non-executive directors to succeed retiring directors Chris Little and Philip Skerrett.

Helen Webster, chief executive of Aberdeen Life, said: “Otto and David are very welcome additions to the board given their extensive experience.

“They will play a key role in continuing to ensure a high standard of independent governance and oversight of our unit-linked funds business.” 

Mr Thoresen is also chairman of the National Employment Savings Trust.

Before this he was director general of the Association of British Insurers and chief executive of Aegon.

Meanwhile Dr Hare qualified as an actuary in 1988 and has held various actuarial, marketing and financial risk management roles in a number of life insurers.

He was a member of the independent project board that oversaw the ABI's audit of the legacy pension schemes identified by the Office of Fair Trading as being at risk of being poor value for money.