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MGM appoints Mark Joannes as Commercial Actuary

7-10-2008

MGM Advantage sharpens annuities team with industry expert

London, 3 October 2008. MGM Advantage, the retirement income specialist has further strengthened its Designs for Retirement team with the appointment of Mark Joannes as Commercial Actuary. Mark will report to the head of the division, Craig Fazzini-Jones and will be responsible for optimising the pricing of our retirement products and supporting product development.

Mark will join MGM Advantage in October and he comes with a strong track record in the retirement market having spent the last seven years at actuarial firm Watson Wyatt where he advised clients including Living Time, Life Trust and The Hartford on product design and development. Previously he was strategic marketing manager at GE Capital following its acquisition of Consolidated Life Assurance.

Craig Fazzini-Jones said: “Mark’s appointment is a further high quality addition to our enhanced annuities team and demonstrates our determination to become one of the top three providers of enhanced annuities.  Mark joins a team who is passionate in its commitment to help people get the best deal possible at retirement. Two thirds of UK consumers at retirement still don’t shop around to make sure they get the right product at the right price, and we aim to put this right. Mark will play an important role in making this happen by making sure we offer the most competitive and innovative products available.”

Mark joins other recent appointees at MGM Advantage including Sales and Marketing Director Aston Goodey, Product and Proposition Manager Eyeedul Haque, and National Account Managers Wendy Dines and Mark Hurrell. Previously known as MGM Assurance, MGM Advantage re-launched as a retirement income specialist in June 2008, offering enhanced annuities which cover a wide spectrum of health conditions. The Designs for Retirement division offers customers and advisers a 45-day quote guarantee and a best price promise if rates go up during this time.

NOTES TO EDITORS

History:  Based in Sussex, the life assurer opened its doors in 1852 as Marine and General Mutual Life Assurance Society, to fill the poorly-met insurance needs of seafarers and traders.

About MGM Advantage:  mgmadvantage.com
MGM Advantage is a new name in the UK retirement income market. Formerly known as MGM Assurance, the company repositioned itself as MGM Advantage in June 2008, when it launched a wholly-owned business unit called MGM Advantage Designs for Retirement to focus on annuity sales and the wider retirement income market.  MGM has been registered longer than any other company in the UK.  It is a mutual society owned by its with profit policyholders, and manages assets in excess of £1.6 billion. MGM Advantage’s commitment to customer satisfaction is backed up by a customer charter, which promises high quality service and ease of mind.

MGM Advantage distributes its products through independent financial advisers (IFAs) across the UK.

MGM Advantage Designs for Retirement, MGM Advantage and the MGM Assurance logos are Trade Marks of Marine and General Mutual Life Assurance Society.

For further information contact:

Clea Bourne       
Flagship Consulting      
Weekday:      020 7886 8447
clea.bourne@flagshipconsulting.co.uk

Will Brewster       
Switchboard: 020 7886 8440
Flagship Consulting
Will.brewster@flagshipconsulting.co.uk