Joint chief executive appointed for SPP and Handelsbanken Liv: Handelsbanken gathers its forces in the life insurance market
Handelsbanken is concentrating its forces in its two life insurance companies, SPP and Handelsbanken Liv.
Since the demutualisation of SPP at the beginning of 2006, both companies are now profit-distributing. This offers major opportunities for co-ordination between the companies.
"Backed by one of the strongest banks in the world, and with the broadest and most competitive range of products, we will now direct all our focus outwards. We will be extremely hard to beat," says Michael Zell, who was today appointed chief executive of the two companies.
Michael Zell, who was today appointed CEO of the companies by the board of each company, will remain as head of the Pension & Insurance business area at Handelsbanken and a member of the Handelsbanken management team.
"Until the demutualisation of SPP, the companies had two completely different business models and thus two different focuses. We were therefore obliged to have two different chief executives - Hans Hagman for Handelsbanken Liv and Göran Holgerson for SPP. They have both done a fantastic job," says Michael Zell.
Now that the two companies are non-mutual, it will be possible to co-ordinate to a greater extent and to gather our forces, says Michael Zell:
"Göran and Hans are two very skilled leaders. Now we have the opportunity to let them concentrate on the most important aspects: developing the business of each company and winning market share. At the same time I will assume the overall responsibility and concern myself with other joint issues for our two life insurance companies."
Hans Hagman has been appointed deputy chief executive of Handelsbanken Liv and head of the business area for private customers. This area will mainly work via Handelsbanken's branches.
"We will be operating through one of the strongest channels in the private market," says Hans Hagman.
Göran Holgerson will be head of the corporate business area and has been appointed deputy chief executive of SPP. This area will have a separate, independent sales organisation which will work directly - and via insurance brokers - with the corporate market under the SPP brand name:
"SPP is an established, respected name in the occupational pensions market. No other company has such a large pool of skills and expertise in this area. We now have a business model which we know is attractive to corporate customers, since in most cases they themselves distribute profits," says Göran Holgerson.
For further information please contact:
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Michael Zell, CEO, SPP and Handelsbanken Liv, phone: +46 8 701 1505, or
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Johan Lagerström, dep. head of Corporate Communications,
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phone: + 46 8 701 1395, mobile: +46 70 265 8014
