M&G : Life appoints Joyeeta Kanungo as Director of Product & Structuring

M&G Life today announces the appointment of Joyeeta Kanungo as Director of Product & Structuring in its Corporate Pension Solutions (CPS) team as it continues to expand its CPS business following the launch of BPA Plus.

In her newly created role, Joyeeta will lead the Products and Structuring team, bringing together product strategy, structuring and investment expertise to develop attractive propositions across M&G's Pension Risk Transfer (PRT) and Workplace Pensions business that meet the evolving needs of pension schemes and their members.

With 18 years' experience in the pensions, insurance and retirement markets, Joyeeta joins from Standard Life, where she served as Head of Market Risk and Matching Adjustment, including asset structuring and capital management of its Mortgage Solutions business. Earlier in her career, she held senior roles at Legal & General and Swiss Re, leading complex reinsurance, capital management and risk transfer transactions across the UK retirement market.

Joyeeta joins M&G as the business continues to build momentum in the BPA market. M&G has expanded its offering through new solutions, including Value Share and BPA Plus, which combines the security of a traditional BPA with the opportunity for members to benefit from future investment outperformance through M&G's £132 billion With-Profits Fund. As the BPA market evolves, M&G remains focused on developing innovative solutions that support improved member outcomes while helping trustees meet their long-term objectives. The business expects to achieve £3-4 billion of annual BPA transactions by 2027.

Kerrigan Procter, Managing Director of Corporate Pension Solutions, M&G said:"I'm delighted to welcome Joyeeta to M&G at an important time for the UK institutional pensions market. As pension schemes' needs become increasingly varied, trustees are looking for insurers that can combine financial strength with the expertise and flexibility to support their long-term objectives. Drawing on M&G's heritage, scale and broad investment capabilities, we are well positioned to develop solutions that meet those evolving needs. Joyeeta's extensive experience in product development and structuring will further strengthen our ability to support schemes in securing positive member outcomes."

Joyeeta Kanungo, Director of Product & Structuring Corporate Pension Solutions, M&G said:"I'm excited to join M&G and lead a team that brings together product, structuring and investment expertise. My career has centred on finding practical, commercially attractive solutions to complex retirement and risk-transfer challenges, and I'm looking forward to bringing that experience to the role. By building on BPA Plus and Value Share, we have a strong platform from which to develop propositions that reflect the changing needs of pension schemes and their members."