Directors

The Board has eleven members, with the Chairman, three executive and seven non-executive directors.

Christopher Collins (68)2
F.C.A., has been non-executive Chairman since May 2005, having been a non-executive director since March 1999. He also chairs the Nomination Committee. He was formerly Chairman of Hanson PLC from 1998 until April 2005. He is Chairman of Forth Ports plc and a non-executive director of Go-Ahead Group plc.

Jim Sutcliffe (51)2
B.Sc., F.I.A., became Chief Executive in November 2001, having been appointed to the Board as Chief Executive of the Group's life assurance businesses in January 2000. He is also a non-executive director of Nedbank Group Limited, Nedbank Limited and Lonmin plc and a director of The Nelson Mandela Legacy Trust (UK). Before joining the Group, he was Chief Executive, UK, of Prudential plc and Chief Operating Officer of Jackson National, Prudential's US subsidiary.

Jonathan Nicholls (50)
B.A, A.C.A, F.C.T., has been Group Finance Director since November 2006, having previously been Finance Director of Hanson PLC from 1996. Prior to that, he held various roles at Abbey National from 1985. During his period at Hanson PLC he initiated continuous improvement at its operations in over 14 countries and introduced more rigorous capital appraisal and strategic planning processes. He was formerly a non-executive director of Man Group plc, a role he resigned from on joining the Company.

Julian Roberts (51)
B.A, F.C.A, M.C.T., has been Chief Executive of Skandia since February 2006. He was previously Group Finance Director of Old Mutual plc, a position he had held since joining the Group in August 2000. He was formerly Group Finance Director of Sun Life & Provincial Holdings plc. Before joining Sun Life & Provincial Holdings plc, he was a director and Chief Financial Officer of Aon UK Holdings Limited.

Nigel Andrews (60)1,2,3
B.Sc., M.B.A., has been an independent non-executive director of the Company since June 2002. He is non-executive Chairman of the Company's principal US holding company, Old Mutual (US) Holdings, Inc. He is a non-executive director of Chemtura Corporation, a governor of the London Business School and a trustee of the Victory Funds. Previously he was an Executive Vice President and member of the office of the CEO of GE Capital, having spent 13 years with The General Electric Company Inc.

Rudi Bogni (60)1,2,3
D.Econ. (Bocconi), has been an independent non-executive director of the Company since February 2002 and he chairs the Remuneration Committee. He will succeed Mr Broadhurst as the senior independent director upon Mr Broadhurst's retirement in May 2008. Mr Bogni is Chairman of Medinvest International SCA, Luxembourg. He is also a member of the boards of the LGT Foundation, Common Purpose International Limited and Prospect Publishing, and of the governing council of the Centre for the Study of Financial Innovation. He served previously as a member of the Executive Board and Chief Executive, Private Banking, of UBS AG, and before that he was Group Treasurer and a member of the Executive Committee of Midland Bank plc.

Russell Edey (65)1,2,3
F.C.A., has been an independent non-executive director of the Company since June 2004. He is Chairman of Anglogold Ashanti Limited, deputy Chairman of N M Rothschild Corporate Finance Limited and a member of the Conseil de Surveillance of Paris-Orléans, SA. He previously served on the boards of English China Clays plc, Wassall plc, Northern Foods plc and Express Dairies plc. His career began in the Finance Division of the Anglo American Corporation of South Africa Limited in Johannesburg. In the 1970s he was General Manager - Corporate Finance of Capel Court Corporation in Melbourne. He joined Rothschild in 1977 and was Head of Corporate Finance from 1991 to 1996.

Reuel Khoza (58)
Eng.D., M.A., has been a non-executive director of the Company since January 2006 and Chairman of Nedbank Group since May 2006. Mr Khoza is Chairman of Aka Capital, which is 25% owned by Old Mutual Life Assurance Company (South Africa) and is the single largest participant in Nedbank's Corporate Client Scheme established as part of its BEE ownership arrangements. He is also a non-executive director of Nampak, Protea Hospitality Holdings and Corobrik. His previous appointments include Chairmanship of Eskom and non-executive directorships of Glaxo Wellcome SA, IBM SA, Vodacom, the JSE, JCI, Standard Bank and Liberty.

Bongani Nqwababa (41)1
B.Acc., C.A., M.B.A., joined the Board as an independent non-executive director on 1 April 2007. He has been Finance Director of the South African electricity utility group, Eskom Holdings Limited, since 2004. Prior to joining Eskom, he had been Treasurer and CFO of Shell Southern Africa. He is currently Chairman of the South African Revenue Services (Receiver of Revenue) Audit Committee.

Lars Otterbeck (65)
Dr. Econ., has been an independent non-executive director of the Company since November 2006. He is also Chairman of Skandia Insurance Company Limited, Hakon Invest AB, The Free Enterprise Foundation and Näringslivets Börskommittee (Industry and Commerce Stock Exchange Committee). He is Vice Chairman of the Swedish Corporate Governance Board and of the Third AP Fund as well as a non-executive director of AB Svenska Spel.

Richard Pym (58)1
B.Sc., F.C.A., joined the Board as an independent non-executive director on 1 September 2007. He is a member of the Group Audit and Risk Committee and will succeed Mr Broadhurst as Chairman of that Committee during 2008. Mr Pym was Group Chief Executive of Alliance & Leicester plc from 2002 until July 2007, and prior to that he held a number of senior financial and management roles at Alliance & Leicester plc and The Burton Group plc. He is also Chairman of Halfords Group plc and of Brighthouse Group Limited and was until 2007 a Vice President of the British Bankers Association.