Rix has been at LV= for four years, initially joining as actuarial and strategy director and becoming the finance and commercial director for its life and pensions business.
But mystery surrounds why former MD Iain Clark has stepped away.
Company sources would only say: “He’s going to be able to spend more time with his family.”
Kevin Carr, Mortgage Introducer columnist and chief executive of The Protection Review and managing director of Carr Consulting and Communications, said: “It’s a great shame that Iain has left this position.
“During his tenure he achieved so much and I’m sure everybody involved in the protection sphere will wish him well in whatever he decides to do next.”
And he added: “That said, it’s going to be exciting to see how LV= now develops its proposition going forward.”
Rix comes to the job with great pedigree.
He is a Fellow of the Institute of Actuaries with over two decades of protection experience.
Prior to working at LV=, he was at Aviva UK Health for 11 years in roles including head of protection and financial and commercial director. He started his career at Skandia Life where he held roles in pricing, product development and financial reporting.
As MD of the protection business Rix will be responsible for all aspects of LV=’s protection business.
Mark Jones (head of protection); Mike Farrell (head of sales); David Stevens (head of direct distribution); and Wian Pieterse (head of pricing) will all report directly into Myles. Myles will report into Richard Rowney, managing director of LV= Life and Pensions.
Rix said: “LV= is a strong player across the whole protection market and is number one in the intermediated income protection market.
“With a wide range of products offering market-leading cover, I believe that we are in a great position to increase the protection market as a whole. I want to focus on continuing to deliver great value protection propositions for advisers and customers.”
Richard Rowney, LV= managing director of Life and Pensions, added: “I am very pleased to have Myles leading the protection business and delighted at the talent we have within the business. I look forward to working closely with Myles to build our business and proposition further.”
Iain Clark was unavailable to comment.