Scottish Friendly hires ex-Deloitte man as chief actuary

Scottish Friendly, Scotland's largest indigenous financial mutual, has hired Alan Rankine to be its new chief actuary.

Alan Rankine  important period in history of the mutual. Picture: Contributed

Rankine has more than 11 years’ financial services industry experience, most recently as a senior manager with Big Four accountancy practice Deloitte. There he led the actuarial insurance team in Scotland and specialised in mergers and acquisitions, insurance business transfers and the management of with-profits business.

Prior to this, Rankine – a mathematics graduate from the University of Edinburgh – spent more than four years as an actuary with Standard Life.

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Scottish Friendly, which took over Marine and General Mutual in its largest ever acquisition in 2015, is currently completing a takeover of a block of pensions business from Mobius Life and recently announced the acquisition of a large block of business from Canada Life.

Rankine said: “I am excited to be taking on this role at such an important period in Scottish Friendly’s history.”

Jim Galbraith, chief executive, Scottish Friendly, said: “We are delighted to welcome Alan as chief actuary to Scottish Friendly’s executive management team.

“The experience he brings comes at a key period in Scottish Friendly’s history as the group aims to continue its sustained period of success in growing its business through organic growth and mergers and acquisitions.”