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TAL creates new risk management role

Life insurer TAL has created a new role within its senior executive team to help strengthen the company's risk management expertise at leadership level.

Scott Mackenzie has been appointed to the new position of chief risk officer following an “extensive career” in financial services in the United States, Latin America and Canada, according to TAL.

TAL chief executive Jim Minto said the appointment not only “boosts TAL’s already strong risk management capability but elevates it to a specific executive management role”.

“As a 140-year-old life insurer, TAL obtains most of its earnings from effectively taking risk, so we have strong risk management capabilities,” he said.

“Enhancing our risk management capability and approach reflects on the continuing growth of the company and helps underpin the promises we make to our customers and partners that we will be there when they need us,” he added.

Mr Mackenzie was most recently chief executive and founder of a risk consulting practice in Atlanta in the US before taking up the new role at TAL.

The change will occur upon the retirement of chief corporate governance officer Peter Noble who has held the role for seven years, TAL said in a statement.