Rumours over AMP's long-term UK position have been re-ignited by the resignation of Tom Fraser as its UK head.
In a bid to improve its profitability, the Australian insurer will replace Fraser with John Drabble, to lead Contemporary UK Financial Services and Ian Laughlin, who will head Mature UK Financial Services.
AMP dismissed rumours over its long-term stability by maintaining that the moves are part of its recently announced five point reform agenda.
Chief executive Andrew Mohl said another four members of the senior management team will also leave the organisation. Acting chief finanicial officer, Paul Leaming, will take on the role permanently.
Mohl said: "I have previously made the point that investors have clearly not been comfortable with the results being achieved, relative to the risks being run.
"The separation of the UKFS into two streams allows us to better manage the risks, which are different for each business. The mature and contemporary businesses require different management skills and have distinct drivers of shareholder value."
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
