Prettejohn to join the PRA's board

Insurance executive Nick Prettejohn has been appointed to the board of the Prudential Regulation Authority.

Mr Prettejohn, the current chairman of Brit Insurance and a former chief executive of the Lloyd's of London insurance market, will resign as a director of Legal & General in order to take up the role.

His appointment has been approved by the Chancellor, George Osborne. Sir Mervyn King, governor of the Bank of England, said: "I very much welcome Nick's appointment and I am sure he will play an invaluable part in establishing the Bank's new judgement-based approach to supervision."