– UK, London – Partnership Assurance Group plc is pleased to announce that Clare Spottiswoode will join the Board as a Non-executive Director on 23 October 2014.  Clare will also become a member of the Risk Committee.

Clare is a mathematician and economist by training, in June 2010, she was appointed by HM Treasury to the Independent Commission on Banking (the Vickers Commission).  The Commission reported in September 2011 and its recommendations were broadly incorporated into legislation.  Clare also has considerable experience in the gas and oil sectors and is at present a Non-executive Director of BW Offshore Limited, EnQuest plc and Ilika plc.  She is also a Non-executive Director of G4S plc and Chairman of Gas Strategies Limited.  Clare’s career has involved acting as Policyholder Advocate for Norwich Union’s with-profits policyholders at Aviva, in which role she acted on behalf of 1m policyholders tasked with reattributing Aviva’s inherited estate, and included time as Director General of Ofgas, the UK gas regulator, where her achievements included extending competition through the gas supply chain.

Chris Gibson-Smith, Chairman, commented: “I am delighted to welcome Clare to Partnership.  She will bring to the Board a breadth of experience and skills from a variety of sectors, which will be invaluable to the Company in its next phase of development”.

The Company further announces that after serving as a Non-Executive Director and Chair of the Audit Committee for nine years, David Young will step down from his Audit Committee role with effect from 23 October 2014 and will retire from the Board on 31 December 2014. As Chair of the Audit Committee, David has played a pivotal role over a period characterised by a changed regulatory and financial landscape for the Company, and the Board thanks him for his significant contribution to the work of the Audit Committee.  He will be replaced as a Chair of the Audit Committee by Paul Bishop, who joined the Board on 1 May 2014.

Maxim Crewe of Cinven will also step down as a Non-executive Director of the Company on 23 October 2014.  Chris Gibson-Smith, Chairman, commented: “The Board thanks Mr Crewe for his significant contribution to the development of the Company, since his appointment to the Board in February 2013, and through the initial public offering of the Company in June 2013.”

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