Canada Life has announced the retirement of Ian Gilmour from the position of executive vice president and general manager of Canada Life, UK Division.

Canada Life has announced the retirement of Ian Gilmour from the position of executive vice president and general manager of Canada Life, UK Division. He has held leadership roles at the firm for 17 years.

At the end of May, Gilmour will step down and be succeeded by Douglas Brown, current chief operating officer at the firm's UK division. Gilmour will retain some non-executive roles, Canada Life said in a statement yesterday.

His tenure has seen the firm's UK arm become an important player in the annuity market and provider in areas such as offshore investment bonds, as well as other fields.

Brown joined Canada Life in 2012 after being chief risk officer with AVIVA Europe. He also worked with AIG in the UK, where he was general manager of the ALICO UK branch.

Canada Life is the oldest Canadian life assurance company, founded in 1847. It began operations in the UK in 1903 and deals with retirement, investment and the protection needs of individuals and companies.