Direct Life and Pension Services managing director Michael Ward has stepped down as MD after founding the company 20 years ago.
Operations director Rob Quayle who has worked for the company for eight years will be stepping into the role of MD with immediate effect.
DLP would not comment on the reasons for Ward’s resignation or his future plans but says he will be staying with the business for the forseeable future to work on specific projects.
DLP’s LifeQuote provides life insurance, general insurance and mortgage protection, critical illness and income protection solutions for the intermediary market.
The Chichester firm employs 200 staff and deals with around 7,000 new protection policies a month. It was bought by Cardif Pinnacle in March 2008 in a bid to boost the provider’s protection business.
Sales and marketing director Neil McCarthy says: “Mich-ael has stepped down as MD but will stay with the business for the forseeable future.”