Lifestyle Article - Clara Pensions appoint former Phoenix Chief Actuary as CEO

 Simon is a highly respected life insurance executive, with over thirty years of experience in the industry. His most recent executive role was the Group Corporate Development Director and Group Chief Actuary at the FTSE100 insurer Phoenix Group. He previously led the M&A teams within Resolution plc, and Resolution Operations both of which grew into FTSE100 businesses.

 He takes over from Adam Saron who founded the business and successfully led it through its regulatory assessment process last year. Adam will continue in an advisory role.

 Commenting on the appointment, Lawrence Churchill CBE, Clara’s Chairman, said: “We would like to express our thanks and gratitude to Adam for his work in bringing Clara to its current position. He has been a driving force in the creation of the DB consolidation market and taken Clara from an idea to the point where we have a firm foundation for our future development.

 “As Clara moves from its initial stage of Regulatory assessment to the next phase of accepting pension scheme members, we are delighted to have attracted someone of Simon’s industry stature, experience and reputation. Pension Trustees and Sponsors have expressed their clear interest in Clara’s solution, and we anticipate a period of significant activity ahead.”

 Simon True, CEO of Clara-Pensions commented “I am excited by the opportunity of leading Clara in the next phase of its development. Having followed Clara as it has developed, it is clear it has a unique proposition to provide enhanced security for the benefits of hundreds of thousands of pension scheme members. I am looking forward to leading the Clara team and working with scheme trustees, sponsors, regulators and advisors to deliver improved outcomes for pension scheme members.”

 Clara-Pensions successfully completed The Pensions Regulator’s assessment process for ‘superfunds’ at the end of November 2021. Clara is on track to consolidate £5bn in defined benefit pension scheme liabilities by the end of 2025.