Friends Life chief underwriter and head of claims Mike Taylor is leaving the provider after it scrapped his role as part of its cost-cutting drive.
Money Marketing understands Taylor will leave his position in the new year.
Taylor joined Axa as chief underwriter in 2005 before becoming chief underwriter for the combined Axa, Bupa and Friends Provident business in October 2010. Before joining Axa he spent 11 years at Zurich, where he was an underwriter and then underwriting manager.
Earlier this month Money Marketing revealed the insurer plans to make 150 staff redundant and has scrapped plans to fill 50 job vacancies. It currently has around 3,800 staff.
In November last year Friends announced plans to outsource the IT and customer service functions for its heritage business to Diligenta, with 1,900 jobs moving across to the outsourcing specialist.
This month, Friends Life parent Resolution announced plans to ditch its externally advised operating structure to protect the company’s premium listing on the London Stock Exchange. It will merge the boards of Resolution Operations LLP and Friends Life by March 2013.
Life Cover for All partner Mike Weedon says: “It is quite concerning that Friends Life has decided to get rid of its chief underwriter. I do not see how you could operate effectively without that role.”
Friends Life refused to comment.