TAL Life CEO Brett Clark is to replace Group CEO Jim Minto, who will retire next April after eight years in the role.

Mr Clark has been named Deputy Group CEO in the interim.

Chairman Duncan Boyle says the board has been planning for the succession “for a considerable period of time”.

“We are pleased to announce the appointment of a very strong internal candidate in Mr Clark,” he said.

He says the appointment follows “a comprehensive assessment process, which included a worldwide benchmarking exercise using external consultants”.

Mr Clark has run TAL Life since 2008, with responsibility for the retail life and investments adviser business, group insurance, wholesale and the advice units Affinia and Lifebroker.

“He has made a significant contribution to TAL and we believe he will be a very successful leader of the TAL group,” Mr Boyle said.

Before joining TAL Mr Clark spent two years as Deputy MD at AIG Life.