LV= is restructuring its life business to bring protection, retirement solutions and heritage businesses under one management with John Perks as managing director.
Perks was previously managing director of retirement solutions and heritage businesses but his remit has been widened.
Myles Rix, managing director of LV=’s protection business, is leaving the business to pursue new opportunities.
The changes are effective from 1 July.
Richard Rowney, LV= group chief executive, said: “I’m delighted that John Perks will be leading the combined LV= Life business going forward.
“He has a wealth of experience in both retirement solutions and protection and I’m certain he will ensure the business continues to fulfil its mission of helping our members live life more confidently.
“On behalf of LV=, I’d like to thank Myles for his continued support, commitment and dedication over the last seven years and wish him all the best in future.”
Perks has been with the mutual society since 2007, when he joined as customer solutions director covering proposition development for the group’s life and pensions business.
He is a fellow of the institute of actuaries and has 25 years’ experience. Before joining LV= he spent two years at Prudential UK as director of protection having previously held senior roles at AXA and Swiss Life.
Rix said: “I have hugely enjoyed my seven years with LV= and I’m extremely proud of the achievements of my teams within that time.
“Together we have implemented new systems and grown both sales and profits, as well as satisfaction among financial advisers.
“Having worked alongside John for many years I know the business will be in good hands and I wish him and LV= every success.”