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Wesleyan appoints new With Profits Actuary

1 min read
Two hands shaking across desk with paperwork

Wesleyan has appointed Stewart Gracie as its With Profits Actuary.

Stewart joined Wesleyan from M&G where he worked for over 20 years in a variety of actuarial roles. He was most recently Head of Finance Strategy, with responsibilities including capital management, with profits management and actuarial valuation methodology and assumptions. Prior to that he spent four years as the Prudential’s Chief Actuary.

Stewart will be responsible for advising the Board on key aspects of discretion in relation to the Society’s with-profits business.

This is a Senior Leader role reporting into the Chief Risk Officer, Jonathan Welsh.

Jonathan said: "Wesleyan’s With Profits Fund is one of the best in the market, combining smoothed returns with a strong investment performance track record.

"We’re delighted to have Stewart join the team, bringing with him a wealth of understanding and experience of with profits that will be invaluable as we progress plans to increase access to our Fund to a wider market."

Stewart added: "I’m really excited to join Wesleyan and be part of a thriving mutual business with a rich heritage. The Wesleyan With Profits Fund is financially strong with huge ambitions for the future and I’m looking forward to working with the team here to continue delivering the best possible outcome for our customers."

The With Profits Fund is Wesleyan’s largest fund and valued at over £4bn.

Stewart is a Fellow of the Faculty of Actuaries.

Remember the value of investments can go down as well as up, and you could get back less than you invest.

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