Norwich Union has announced that Ken Wallace, intermediary business director, will retire in September.
Norwich Union has announced that Ken Wallace, intermediary business director, will retire in September.
He will relinquish his current responsibilities at the end of May but will continue as an executive director of Aviva General Insurance (AGI) until the end of September. Ken will help oversee some elements of the RAC integration and ensure a smooth transition of management in the vitally important intermediary business distribution channel.
Ken joined Norwich Union in Edinburgh in 1965. His career has taken him to numerous different locations in the UK where he has undertaken a variety of roles. Following the merger between Norwich Union and CGU, Ken was appointed intermediary business director with bottom-line accountability for Norwich Union’s broker business.
"Without Ken it would be difficult to imagine how Norwich Union Insurance could have maintained the loyalty and support of the broker community during some difficult times since the CGU/Norwich Union merger," said Patrick Snowball, chief executive of Norwich Union Insurance.
"The excellent business results we have delivered during that period owe a great deal to the effort and dedication of Ken and his team. Everyone in Norwich Union will join me in wishing Ken well and in thanking him for his huge contribution to the business over many years and the strong legacy he leaves us. I am pleased Ken has agreed to stay with us to smooth the transition to a new structure".
Commenting on his retirement, Ken said: "I've had 40 very good years with Norwich Union and I've enjoyed my time immensely. In that time the industry and the issues affecting it have moved on immeasurably. The intermediary sector continues to face fresh challenges and these will undoubtedly continue into the future. That said, I leave a company that has led and benefited from change and is in great shape.
"I am delighted with Mark Hodges' appointment as managing director of Norwich Union General Insurance (NUGI). Mark has been both a friend and colleague for many years and I know that he his new team will build on this success."
Ken Wallace - intermediary business director, Norwich Union Insurance
Ken joined Norwich Union in Edinburgh in 1965. He has had spells in the marketing area and in sales and branch management.
He was Norwich Union group training manager from 1985 to 1989 when he joined the corporate team with responsibility for human resource development.
In 1992 Ken headed up the business development operation for personal lines in the UK. In October 1996 this was extended to include all general insurance. On the acquisition of London & Edinburgh, Ken assumed responsibility for the whole sales operation as business development director.
After the merger of Norwich Union and CGU, he was appointed intermediary business director. He is an executive director of Norwich Union Insurance
Ken is qualified as a Fellow of the Chartered Insurance Institute.
He was born and educated in Edinburgh.
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Press office contact:
David Ross 01603 682730/07800 699665
Notes to editors
- A photograph of Ken Wallace is available in the media centre image library at /index.asp?PageID=60&ImageID=296
- Norwich Union is the UK's largest insurer with a market share of around 13 per cent
- With a focus on insurance for individuals and small businesses, Norwich Union insures:
- one in five households
- one in seven motor vehicles
- more than 800,000 businesses
- Norwich Union products are available through a variety of distribution channels including brokers, corporate partners such as banks and building societies and Norwich Union Direct.