LV= has hired former Aviva Life UK retirement solutions managing director Clive Bolton to head up its life and pensions division.
Current LV= life and pensions managing director John Perks is set to leave the firm.
Perks, who joined LV= in 2007, took on the life and pensions managing director role in 2017 when the firm decided to pull its protection, retirement solutions and heritage businesses under one management team.
He will be leaving in April to become chief executive of Police Mutual Group.
Bolton, who previously spent 11 years with Aviva. will come in to fill the same position.
He left Aviva in 2017 as part of a restructure at the firm which also brought all of its UK insurance businesses – life, general and health insurance – together under one reporting line.
Since his departure he has been working as a consultant with the International Longevity Centre and as a non-executive member of the Civil Service Pension Scheme Advisory Board.
LV= chief executive Richard Rowney says: “John has played a key part in taking the life business from sales of £500m a year to over £2trn and leaves an organisation well placed to deliver on its goals for customers, members and advisers. We wish him every success in the future.
“Clive Bolton is a hugely impressive business leader with a proven track record of growing and developing life businesses based around the needs of customers and advisers. He brings an extensive understanding of the life and pensions market and I’m confident that he’ll contribute significantly to LV=’s future success.”