Paul Corver elected at recent AGM.
The board of ARC, the UK trade body for legacy management professionals, has formally ratified Paul Corver as its new chairman.
The decision was made at ARC's Annual General Meeting on Monday. Corver succeeds Philip Grant who, after seven years on the board, the last three of which were as chairman, has stepped down.
ARC has also annouced the election to the board of Leena Ekman, business development manager at Global General Reinsurance Services Ltd, and the re-election of Luke Tanzer and David McGuigan.
Paul Corver, ARC chairman, said: “I would like to express the board’s gratitude to Philip for his invaluable contribution to ARC and in particular all his hard work and commitment as Chairman.
"It is thanks to the leadership of people such as Philip that ARC is today recognised as the voice of the sector by a wide range of bodies, including the FSA and the UK’s Department for Work and Pensions (DWP), and is pursuing such valuable projects for members as the ARC Academy and the current drive to create an individual capital adequacy (ICA) model for discontinued underwriting operations.
“Looking ahead, in addition to seeking to further expand our membership and forge greater links with our legacy sector colleagues in Continental Europe and further afield, we are looking into a number of initiatives including responding to members’ calls to take Academy courses overseas and further developing the ICA project, once completed, to reflect the demands of Solvency II.
“That said, the top priority of the legacy sector at present is to assist companies which are suffering in the current market turmoil by offering our market leading skills on commutations and other finality solutions.”
