Legal & General head of strategy for individual annuities Tim Gosden has left the insurer as part of the group’s wider restructuring.
Gosden has been at L&G for 11 years after joining from MGM Advantage in 2004.
An L&G spokeswoman says: “Tim made a great contribution to Legal & General becoming one of the leading and most highly regarded annuity businesses in the market over the past few years.
“The at-retirement landscape is changing post the Budget announcement and although we believe individual lifetime annuities will still be part of the mix of product options available to customers in the future, the dynamics are and will continue to change.
“Tim decided that he wished to look at his options outside of Legal & General. We thank Tim for the commitment he has shown in making Legal & General one of the most respected annuity business today and wish him all the very best with his future plans.”
The company’s life and pension and protection businesses have been reorganised in recent months. L&G Assurance Society chief executive John Pollock is retiring while group protection will move from the corporate to the insurance division, the corporate defined contribution pensions platform will move inside L&G Investment Management and the savings business will be split into ‘mature’ and ‘digital’ divisions.