Andy Watson is to succeed Derek Netherton as chairman for the UK of Canada Life.
Watson, currently a non-executive director at Canada Life Limited, has been appointed, subject to regulatory approval. He has previously held executive roles at Ageas UK, HSBC Insurance, RBS Insurance, Cooperative Insurance and Direct Line.
Netherton, who has been chairman for over a decade, will step down later this year.
He was appointed as non-executive director and chairman of the boards of MGM Advantage Life Limited, MGM Advantage Holdings Limited and MGM Advantage Services Limited in January 2018 and is also a director of Irish Life Group Limited, a role he has held since July 2013.
Lindsey Rix, CEO, Canada Life UK, said: “I would like to thank Derek for his direction as he steered the business through an ever-changing economic and regulatory landscape over the past decade while overseeing the company grow from strength to strength. All of us here at Canada Life wish him all the very best for the next challenge.
“I am delighted to welcome Andy as incoming chairman, having joined the board 18 months ago. Andy brings a wealth of experience with a strong customer focus and wide market experience, and I look forward to working with the board and UK executive to deliver our strategic priorities and purpose.”
Watson (pictured) added: “I look forward to taking over from Derek later this year and thank him for his excellent leadership. I have admired his stewardship of Canada Life Limited and its board since joining the company as a Non-Executive Director.
“We have even further ambition for Canada Life in the UK – it’s a great organisation and a great time to be appointed as chair.”