(Reuters) -Britain’s Legal & General said on Tuesday that Chief Financial Officer Jeff Davies would be stepping down from the role at the end of 2025 to pursue opportunities at another insurer.
Andrew Kail, currently the chief executive officer of L&G’s largest division Institutional Retirement, will be succeeding Davies as group finance chief on December 1.
Davies, who has held the role since March 2017, will be leaving the company to join insurance group Resolution Life as its CFO from March 2, 2026.
Kail previously spent 30 years holding senior roles in auditing firm PricewaterhouseCoopers before joining L&G in 2021.
The leadership change comes at a time when CEO Antonio Simoes is restructuring the business. The insurer has offloaded non-core businesses to focus on its core insurance and asset management units.
In August, L&G reported a 6% rise in half-year core operating profit, driven by pension buy-outs, but disappointed investors with a weaker solvency ratio.
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)
