LV= has restructured its life business to bring its protection, retirement solutions and heritage businesses under one management. As a result, the insurer has promoted John Perks to managing director of the life and pensions business.

Effective from 1st July, LV= said the change reflects the alignment in the future strategic direction of the overall life business and will allow for greater efficiencies.

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Following this restructure, Myles Rix, currently managing director of LV=’s protection business, will be leaving LV= to pursue new opportunities.

Perks is currently managing director of LV=’s retirement solutions and heritage businesses and this new role will see him take on responsibility for all aspects of the insurer’s protection business in addition. He will report directly to Richard Rowney, group chief Executive.

A fellow of the Institute of Actuaries and with 25 years’ industry experience, Perks originally joined the mutual society in 2007 as customer solutions director, covering all proposition development for the group’s life and pensions business.

Prior to LV= he spent two years at Prudential UK as director of protection having previously held senior roles at AXA and Swiss Life.

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Rix said: “I have hugely enjoyed my seven years with LV= and I’m extremely proud of the achievements of my teams within that time.

“Together we have implemented new systems and grown both sales and profits, as well as satisfaction among financial advisers. Having worked alongside John for many years I know the business will be in good hands and I wish him and LV= every success.”

Rowney said he was delighted that John Perks will be leading the combined LV= Life business going forward.

Rowney said: “He [Perks] has a wealth of experience in both retirement solutions and protection and I’m certain he will ensure the business continues to fulfil its mission of helping our members live life more confidently. On behalf of LV=, I’d like to thank Myles for his continued support, commitment and dedication over the last seven years and wish him all the best in future.”