LV= has named Richard Rowney as its next chief executive.
He is currently managing director of its life and pensions business and originally joined the mutual in 2007 and chief operating officer.
Rowney takes over from Mike Rogers who ran the business for ten years. He announced his intention to step down in April.
LV= chairman Mark Austen said: "Mike Rogers has led LV= with great distinction and success, transforming the business culture and its financial performance.
"We believe that effective succession planning is done from a position of strength and following a thorough search process that produced a shortlist of excellent internal and external candidates the board is particularly pleased to be able to promote from within to fill the role of chief executive."
Rowney commented: "In a changing financial world, our approach remains consistent; earning trust by providing good value backed up with great values.
"I'm fully aware of the board's ambition for LV= and am excited by the challenges and opportunities that lie ahead."
