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The Financial Services Authority (FSA) today announced the appointment of Ken Hogg, currently interim Chief Financial Officer at MGM Assurance, as Insurance Sector director. He will start at the FSA on Monday 6 July and will report to Jon Pain, FSA managing director retail markets.
The Insurance Sector team leads the FSA's work on insurance sector issues and represents the FSA in its dealings with a wide range of external stakeholders including trade associations, professional bodies, analysts and international regulators. It aims to ensure that industry-wide insurance issues which may pose a risk to the FSA’s objectives are identified and resolved on a timely basis.
Prior to joining MGM Assurance Ken Hogg was Chief Operating Officer at AIG Life and he also spent 20 years at AEGON.
Jon Pain said:
"I am delighted to announce this appointment. Ken has a wide and extensive experience of the insurance industry with a particularly strong actuarial background. He will be a valuable addition to the FSA senior team and our oversight of the insurance industry."
Ken Hogg succeeds Sarah Wilson, who had indicated at the beginning of this year that she wanted to seek new challenges outside the FSA. She has, however, agreed to stay on for several more months in an advisory capacity.
Jon Pain said:
"We are sorry that Sarah has decided to move on - she has made an outstanding contribution to the FSA, most recently as insurance sector leader over the past three years, but we are pleased we will retain the benefit of her experience in the coming months."
Background
- Ken Hogg has most recently been interim Chief Financial Officer at MGM Assurance. Prior to that he was the Chief Operating Officer at AIG Life. He also spent 20 years at AEGON and its key subsidiary Scottish Equitable where he held senior actuary roles, including Company Actuary with their pan European life company. He then held various director level roles over a 10 year period including Marketing Director and Director of Industry Development in the UK and finally Sales & Marketing Director in India.
- The FSA regulates the financial services industry and has four objectives under the Financial Services and Markets Act 2000: maintaining market confidence; promoting public understanding of the financial system; securing the appropriate degree of protection for consumers; and fighting financial crime.
- The FSA aims to promote efficient, orderly and fair markets, help retail consumers achieve a fair deal and improve its business capability and effectiveness.
