Guardian Financial Services appoints James Tufts as Group Chief Risk Officer
Guardian Financial Services, the specialist insurance group which provides capital release solutions to banks and insurers, has appointed James Tufts as Group Chief Risk Officer.
Mr Tufts will be responsible for the design and implementation of Guardian's risk management framework. He will become a member of Guardian's Executive Management Group.
Mr Tufts joins from Ernst & Young in London where he was Lead Partner for both the firm's UK Life Actuarial Practice and the UK Insurance Risk Markets Practice. He has also worked at Tillinghast-Towers Perrin and Legal & General.
Jonathan Yates, Chief Executive of Guardian Financial Services, said: "Risk management is at the heart of everything we do at Guardian. James is a highly respected figure in the UK's life assurance industry and his recruitment marks a significant milestone for us. His appointment will further strengthen our risk management expertise as we grow by acquiring books of business, companies or through reinsurance transactions."
Guardian agreed in December last year to acquire the Irish insurer Ark Life from Allied Irish Bank. Ark Life closed to new business in 2012 but has 270,000 policyholders and manages €4 billion of assets. The transaction increases Guardian's overall assets under management to £17 billion and policyholders to 850,000.
Guardian also completed a £5 billion in-payment annuities deal with Phoenix Group in September 2013.