Cornhill to set a new course

New Allianz Cornhill ceo Andrew Torrance has spelt out his vision forthe company's future as the insurer announced a restructuring ofoperations.

Mr Torrance, who takes over from outgoing chief Ray Treen this month, saidthat he believed the insurer had to devise a long-term strategy that wouldposition it to meet market cycles, rather than trying to react to the manychanges it undergoes. "I see it like navigating a big liner - you have tokeep steering in the right direction, you cannot tack and

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