The Benefact Group has announced the appointment of Mark Bennett as its new chief financial officer (CFO). According to a news release, Bennett has served as acting CFO since July 2024 following Denise Cockrem’s retirement. He will formally assume the role in January 2025, pending regulatory approval.
In addition to his new responsibilities, Bennett will join the boards of both the Benefact Group and Ecclesiastical Insurance. His appointment follows a comprehensive internal and external recruitment process.
Mark Hews, group CEO of Benefact Group, commended Bennett’s leadership and contributions during his tenure as acting CFO. “Mark was the standout candidate for the role,” Hews said. “His leadership has been instrumental, not least in developing our group’s new financial and capital plans. Mark’s career progression with the group over the past 17 years is an inspiring story.”
Bennett’s career with Benefact Group began in 2007 when he joined Ecclesiastical Insurance as an actuarial student. Over the years, he advanced through various leadership roles, graduating from the company’s leadership development programme and managing actuarial, reinsurance, risk, compliance, and investment teams. Among his accomplishments, he led the group’s regulatory internal model approval in 2018 and spearheaded initiatives that contributed to the company’s growth, the news release noted.
As CFO, Bennett will oversee the group finance, risk, actuarial, and premises teams, as well as lead strategic initiatives aligned with the group’s ambitious long-term goals. These include expanding its business operations and achieving a target of raising £250 million for charitable causes.
With Bennett’s appointment, Benefact Group will now begin recruiting a new group chief actuary, a role that will report directly to him as CFO.
Benefact Group is a financial services organization that includes businesses specializing in insurance, investments, broking, and advisory services. It operates as the charitable-owned parent company of Ecclesiastical Insurance and EdenTree. The group is owned by the Benefact Trust and ranks as the third-largest corporate donor in the UK, with all available profits directed toward charitable initiatives and good causes.
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