Norwich Union, the UK’s largest insurer, has appointed Clive Witter as the new managing director of its WRAP operation, Lifetime.
Norwich Union, the UK’s largest insurer, has appointed Clive Witter as the new managing director of its WRAP operation, Lifetime. Clive, formerly managing director of Norwich Union’s offshore division, Norwich Union International Limited (NUIL) based in Dublin, has extensive experience of running subsidiary companies. During his time at NUIL, Clive has overseen significant growth and expansion of the offshore business.
Jeremy Bradburne, the former chief executive of Lifetime has stepped down from the board and will be leaving the company but will be working closely with Clive for a handover period.
Norwich Union believes the time is now right to bring Lifetime much closer into the company and make it more integrated into its operations. Lifetime is a key proposition for Norwich Union and the company is seeking to significantly develop its presence in the wrap market and believes this closer integration will be a major catalyst for growth.
In addition to Clive becoming managing director, Norwich Union will be deploying significant additional expertise into Lifetime specifically from a marketing and operational perspective. This additional expertise will ensure that Lifetime has the tools at its disposal to further impact and lead the rapidly developing WRAP market.
New managing director, Clive Witter, said: “The Lifetime WRAP platform is a leading player in the rapidly developing market and Norwich Union wishes to further develop its status. We have made good inroads into getting advisers signed on to the platform and developing the platform’s capabilities, but we want to accelerate this process to ensure we stay at the forefront of this important market.”
Norwich Union Life chief executive, Mark Hodges, said: “We see WRAPs as a strategically important proposition and we are one hundred per cent committed to further investing resources and expertise to grow the business.
“I would like to thank the initial management team at Lifetime for putting together an excellent operational platform that we are now pushing forward to the next phase of development and growth using the resources and strengths of Norwich Union.”
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Notes to editors:
Norwich Union is the UK’s largest general insurer with a market share of around 14%, with a focus on insurance for individuals and small businesses.
It is a leading provider of life, pensions and investment products and one of the largest financial adviser (FA) providers. FAs provide over 70% of the company's long-term savings business in the UK.
Norwich Union’s news releases and a selection of images are available from Aviva's internet press centre at www.aviva.com/media.