Provider LV has appointed Mark Hartigan as chief executive, who was part of the senior leadership team at Zurich in the past 10 years.
Mr Hartigan, who was most recently head of operations for Zurich EMEA, will take on his new role with effect from January on an initial 12 month contract, subject to regulatory approval.
He is replacing Richard Rowney, who announced earlier this month he would be stepping down as LV’s CEO to “seek new opportunities” after thirteen years with the provider.
According to Alan Cook, chairman at LV, Mr Hartigan is the ideal candidate to lead the provider as the company begins its journey as a standalone life and pensions business.
Mr Cook said: “He brings a wealth of knowledge of the life insurance market and has a strong track record of delivering financial success and business transformation in challenging and fast changing market conditions.
“We are pleased that we have been able to act swiftly in making this appointment and I look forward to working together with Mark [Hartigan] to build on the strong platform that LV has in the savings, retirement and protection market.”
Mr Hartigan said: “LV is a business I have long admired. As the company completes the sale of its general insurance business and starts 2020 as a focused life and pensions business, it is an exciting time to join.”
In December 2017, LV sold a 49 per cent stake in its general insurance business to Allianz for £500m.
In May this year Allianz purchased the remaining 30.1 per cent stake for £365m, bringing its total holding to 100 per cent.
maria.espadinha@ft.com
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