AMP Life Chairman Trevor Matthews will remain on the board after the business is sold to Resolution Life, while retiring from the AMP board.

He joined in 2014 and was appointed Chairman of AMP Life in 2016.

“His deep knowledge of the life insurance industry will be a great asset to AMP Life, in which AMP will retain an ongoing economic interest,” AMP Chairman David Murray says.

Mr Matthews’ position on the AMP board will be filled by Debra Hazelton, a non-executive director of AMP Capital, from June.

“Debra already understands our business and our work to reinvent AMP as a more streamlined, sustainable business with a high-quality client offering,” Mr Murray says.

The appointments add to leadership changes AMP has made to separate its insurance and mature businesses and move in a different direction.

Megan Beer, who led AMP’s insurance business for five years, was named AMP Life CEO and Resolution Life Australasia CEO in February.