Wesleyan Assurance Society has announced the appointment of Nigel Masters to its board of directors.

Mr Masters has more than 35 years’ actuarial experience working primarily within the life insurance industry and is also a past president of the Institute of Actuaries.

He has previously worked as group chief life actuary at Zurich Financial Services, based in Zurich, where he was responsible for the corporate actuarial work in 19 life business units.

Mr Masters also spent 14 years at PwC where he undertook extensive mergers and acquisition work and advised on international financial reporting.

He currently manages his own business providing strategic and actuarial consultancy services, as well as reviews on risk management frameworks.

Bryan Jackson, Wesleyan’s chairman said: "Nigel will be a tremendous addition to the Wesleyan board. His deep knowledge of the life insurance industry and actuarial processes, combined with his risk management and mergers and acquisitions experience, mean he will have a great deal to contribute as we seek to further strengthen and grow the business to benefit policyholders and staff."

Mr Masters added: "It is a real pleasure to be working with Wesleyan, a company which has continued to grow and succeed despite the ongoing challenging economic climate. I’m very much looking forward to being part of an organisation with a clear vision and passion to succeed and helping to shape its future growth."