Board role for Strauss
Ex-Widows boss joins Legal & General
Mr Strauss will take up his role on 1 January, and will sit on its nominations, audit and risk committees.
Prior to working at Scottish Widows, Strauss has also held the role of chief executive of Aviva’s UK life business.
L&G interim chairman Rudy Markham said: “I am delighted that Toby is joining us. His many years of experience in the UK insurance sector further supplements the strength and balance of skills and experience of the board. I look forward to working with him.”
Mr Strauss said: “L&G is a fantastic company committed to supporting investment in UK infrastructure and the savings, insurance and retirement needs of their customers. I look forward to joining the board.”
L&G announced it is on track to double its new business sales in its retirement division. Sales have reached £5.4 billion against £2.9bn for the full 2015 year.
New business has been driven by growth in pension de-risking business and equity release.