Liverpool Victoria Financial Services Limited (LV=) has announced the appointment of David Hynam as its incoming chief executive, subject to regulatory approval.

Hynam (pictured) has extensive executive experience in the UK insurance sector, with roles including chief executive officer of Bupa’s UK and Global markets, UK CEO of Friends Life and chief operating officer of AXA. He has 30 years’ experience in retail financial services.

He will join LV= on 26 September 2022. He succeeds Mark Hartigan who announced his decision to step down as chief executive after two years in an interim role and will be leaving the business at the end of the month.

Simon Moore, LV= chair, said: “In securing the services of David Hynam, LV= has acquired a truly market-leading chief executive. He is the ideal candidate to help LV= continue to build a strong and sustainable future as a mutual life and pensions business and that our mutual values thrive for the benefit of our members.

“David brings with him a track record of hugely successful leadership in the insurance sector, while his extensive experience working with distribution partners, intermediaries and brokers, means he is a perfect fit for LV=’s mutual business model.

“As well as his commercial and technical knowledge of the insurance sector and financial services, it is David’s values-driven approach and strong track record of business transformation and growth that makes him the right person to lead LV= into the next exciting phase of its future as part of a resurgent mutual sector.

“Under my tenure, LV= will be a leading example of the value that mutuality can bring both to its members and wider society and David is going to be a very important part of that.”

“I look forward to introducing David at our AGM in October, as his appointment marks a new era for LV=. At the AGM I will also give an unprecedented address directly to our members so that they are the first to hear about the steps David and I are taking to demonstrate that transparency and fairness will be at the heart of our mutual business going forward.”

Hynam added: “LV= is both a trusted brand and a company with a fantastic purpose. I am excited to be part of the future growth of LV= and look forward to driving opportunities, whilst meeting challenges head on.

“My priorities will be to work with the team at LV= to deliver a true mutual culture, realise LV=’s huge distribution potential and drive business performance so that we deliver the best possible outcomes for our members, advisers and colleagues.”