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Lucida expands its team
Jun 27 2008
Lucida plc, an insurance company focused on longevity risk and corporate pension schemes, has made four appointments in the last month, as it continues to grow its presence in an increasingly fast-growing market.
John Tiner (Non-Executive Director)
On 13th June Lucida announced that John Tiner, former chief executive of the Financial Services Authority (FSA) is to join the Lucida Board as a non-executive director. As FSA Chief Executive, John Tiner was widely credited with bringing a new focus to the regulator, basing it around risk-based and principles-based regulation. As Managing Director he spearheaded reform of regulation of the insurance industry and handled the implications of testing conditions in the equity market.
Daniel Schrupp (Senior Credit Officer)
Daniel joined Lucida on 23rd June and is responsible for managing the Lucida’s credit-related investments.
Daniel joined Lucida from Aozora Bank, Ltd., a major Japanese bank, where he managed the bank’s credit investments in the U.S. and European markets. Prior to that he was an investment banker at Salomon Brothers and CIBC World Markets where he focused on leveraged financings. Daniel has an MBA from The Tuck School at Dartmouth College and a degree in Economics from Yale University.
Jemima Fitzgerald (Marketing Executive)
Jemima was appointed as Lucida’s Marketing Executive on 4th June. She is responsible for the development and implementation of the marketing strategy and the growth of the Lucida brand in the marketplace.
Jemima joined Lucida from EquaTerra, one of world’s leading sourcing advisory firms, where she was Marketing Director. Before then, Jemima was head of marketing for Morgan Chambers, having spent over three years with Accenture HR Services prior to that. Jemima has a degree in Managerial and Administrative Studies from Aston University in Birmingham and a Postgraduate Diploma in Marketing from Cambridge Marketing College.
Cathy Wang (Trainee Actuary)
On 16th June Cathy Wang joined as a trainee actuary. Lucida’s actuaries are an integral part of its talented, experienced and well-balanced team of experts, combining financial, industry and technical expertise with a commitment to outstanding customer service and a track record of delivering it.
Cathy was previously a senior actuarial analyst in Actuarial and Insurance Solutions at Deloitte London where she worked on a variety of Life Consultancy projects including auditing, Prophet modelling and M&A. Prior to that she was an actuarial assistant in Retail Product Development at Old Mutual in South Africa. Cathy has a degree in Actuarial Science from the University of Cape Town.
Jonathan Bloomer, Executive Chairman of Lucida, commented, “We are delighted to welcome John, Daniel, Jemima and Cathy to Lucida. Our expanding team is testament to how much the bulk annuity buy-out market is growing – a natural consequence of buy-outs being more widely understood and accepted as a sensible approach to risk management by corporate sponsors and Trustees”.
About Lucida Lucida plc is a new insurance company created specifically to focus on annuity and longevity risk business, including the defined benefit pension buy-out market and the market for bulk annuities. In January 2008 Lucida was awarded its first deal with Bank of Ireland Life, one of Ireland’s leading insurance companies, to reinsure over €100 million of its existing immediate annuity business plus the majority of the future annuity business written by the Irish company, estimated to be worth a further €40 million a year.
http://www.lucidaplc.com/news-room/press-releases/lucida-to-partner-with-bank-of-ireland-life.
In March, Lucida announced a second deal with the Trustees of the Morgan Crucible UK pension schemes, worth in excess of £160 million, to transfer the pensioner risks of both its main and senior schemes to Lucida.
Founded by Jonathan Bloomer, Christopher Wales and David Clinton, more information about the management and the company’s business philosophy can be found on our website: www.lucidaplc.com.
Lucida plc is authorised and regulated by the Financial Services Authority. For further enquiries please contact:
Jemima Fitzgerald, Marketing Executive - Lucida
jemima.fitzgerald@lucidaplc.com or +44 (0)20 7647 1623
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