LONDON, Oct 16 (Reuters) - Legal & General has put board members in charge of its overseas businesses for the first time, underscoring new chief executive Nigel Wilson’s ambition to boost the British insurer’s international growth.
Head of risk, John Pollock, will take responsibility for L&G’s Dutch and French operations, while Mark Gregory, head of savings, will oversee its Indian joint venture, the company said on Tuesday.
Pollock and Gregory replace Gareth Hoskin, head of L&G’s international division, who is retiring and did not sit on the board.
L&G, a 176-year old insurer known for its conservative approach and often seen as focused exclusively on its domestic market, made 13 percent of its operating profit overseas last year, up from 10 percent in 2010.
Wilson, who took over as CEO in June, will work closely with L&G’s U.S. unit, and direct development of its businesses in North Africa and the Middle East, the company said.
L&G shares were up 0.5 percent at 1130 GMT, in line with a 0.6 percent higher FTSE 100 share index.