MGM Advantage appoints new Actuarial Function Holder and With-Profits Actuary

2nd November 2009

MGM Advantage, the retirement income specialist, today announces the appointment of Chris George as Actuarial Function Holder and With-Profits Actuary.Chris will report to Geoff Shanks, Chief Financial Officer, MGM Advantage.

Chrisjoins MGM Advantage from Watson Wyattwhere he had over thirty years experience as a consulting actuary. He advised numerous life assurers across the UK, Europe and Asia Pacific on statutory reporting, wider financial reporting and M&A transactions.Chris has also been Actuarial Function Holder and With-Profits Actuary to a number ofUK firms.

Chris Evans, Chief Executive of MGM Advantage said, “We are delighted that Chris is joining us at MGM Advantage. He has been working with us since 2004 and so he understands our business inside out and will strengthen our actuarial capability as we develop our business.He is very highly respected and experienced in the market and we are looking forward to using his knowledge to bring greater value to our members and services to our customers.”

Chris George has co-authored several professional papers including “The Ownership of the Inherited Estate”, “Reserving for Annuity Guarantees” and “Fair Valuation of Liabilities”.He has also worked for the FSA as part of a team to develop the report entitled “The Future Regulation of Insurance”, preparing the market for recent changes in UK regulation.Chris has been a Fellow of the Institute of Actuaries since 1985.

Notes to editors

For further information

Citigate Dewe Rogerson

Jo Skinner 020 7282 1092
Sophie Woodcock 020 7282 1072

About MGM Advantage

www.mgmadvantage.com

History: Based in Sussex, the life assurer opened its doors in 1852 as Marine and General Mutual Life Assurance Society, to fill the poorly-met insurance needs of seafarers and traders.

MGM Advantage is a new name in the UK retirement income market. Formerly known as MGM Assurance, the company rebranded as MGM Advantage, Designs for Retirement in June 2008 and repositioned the company as a retirement income specialist.

Its launch product – an Enhanced Annuity – is designed to provide additional income in retirement for people with any health conditions or a poor medical history and is distributed through independent financial advisers (IFAs) across the UK.

MGM Advantage is a mutual society owned by its members, and manages assets in excess of £1.4 billion. MGM Advantage’s commitment to customer satisfaction is backed up by an industry-leading customer charter, which promises high quality service and a £25 no-quibble payment to any customer who feels they haven’t receive the level of service they expected.

MGM Advantage Designs for Retirement, MGM Advantage and the MGM Assurance logos are Trade Marks of Marine and General Mutual Life Assurance Society.