May 10, 2012 / 6:26 AM / 6 years ago

Insurer L&G names Wilson as new CEO

LONDON, May 10 (Reuters) - British insurer Legal & General said finance chief Nigel Wilson would take over from outgoing Chief Executive Tim Breedon next month, confirming a widely-expected appointment.

Wilson, who joined L&G in 2009 and had been seen by analysts as Breedon’s most likely successor, becomes group chief executive designate immediately, and will take over the role on June 30, the insurer said on Thursday.

“Nigel will bring an evolutionary approach to the execution of the next stage if the group’s strategy, and provide continued focus on delivering for our customers, business partners and shareholders,” L&G chairman John Stewart said in a statement.

Breedon, who has led L&G for the last six years, will stay on until the end of the year to help it lobby for changes to the European Union’s planned Solvency II capital regime for insurers.

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