GIO: We won’t be skinned again

GIO is to send its reinsurance run-off expert Paul Dassenko to London and will recruit a team of technical experts to back him up. However, the day to day management of the run-off of the Australian group’s reinsurance arm, now owned by AMP, will remain in Sydney. The company already has a presence in London for legal and audit procedures but this is mainly outsourced at present.