Myles Rix, currently managing director of LV=’s protection business, will be leaving the insurer to pursue new opportunities amid a restructure in the firm’s life business.
LV= is bringing its protection, retirement solutions, and heritage businesses under one management, and has in turn promoted John Perks to managing director of the life and pensions business.
Perks is currently managing director of the insurer’s retirement solutions and heritage businesses. As part of his new role, the 25-year industry veteran will also take on responsibility for all aspects of LV=’s protection business.
He will report directly to Group chief executive Richard Rowney, who is “delighted” that Perks will be leading the combined life business going forward.
The newly promoted MD joined LV= in 2007 as customer solutions director. Perks, an Institute of Actuaries fellow, also served as director of protection at Prudential UK after holding senior roles at
AXA and Swiss Life.
LV= said the change, which takes effect from July 01, will allow for greater efficiencies and is a reflection of the alignment in the future strategic direction of the company’s overall life business.
Meanwhile, the departing managing director worked at Skandia Life and
Aviva UK before joining LV= as actuarial and strategy director. Rix also served as finance and commercial director for the life and pensions business.
Commenting on the developments, he said, “Having worked alongside John for many years I know the business will be in good hands and I wish him and LV= every success.”
Rix added he’s extremely proud of his teams’ achievements within his time at the company. “Together we have implemented new systems and grown both sales and profits, as well as satisfaction among financial advisers.”
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