Declan Bolger will become the new chief executive of Irish Life as the current CEO, David Harney, moves up the chain of command at parent Great-West Lifeco.
Irish Life confirmed the moves today as part of a wider string of promotions.
Mr Bolger is currently chief executive of Canada Life Europe, another Great-West Lifeco unit that he helped to found in 2000. As its CEO for the past decade, Mr Bolger is credited with doubling the firm’s client base in Germany to more than 500,000 today.
“I’m excited to take on a new challenge as leader of our Irish business,” Mr Bolger said. “Working with the Canada Life Europe team over the last 20 years has been a great honour. Canada Life is now established as one of the leading brands in the German broker life market with great prospects to grow further.”
Mr Harney, CEO of Irish Life since February 2016, will become president and chief operating officer of Great-West Lifeco’s European operations overseeing business in Ireland, the UK and Germany.
“We are very proud of our market-leading position in Ireland working to help people build better futures,” Mr Harney said. “Our parent, Great-West Lifeco, continues to invest substantially in Dublin and the Irish market where we see significant growth potential.”
He succeeds Arshil Jamal, who is being promoted to become Great-West Lifeco’s president and group head for strategy, investments, reinsurance and corporate development.
“These changes represent a continuation of strategic leadership for our business in Europe,” said Paul Mahon, president and CEO of Great-West Lifeco.
“Through their vision and dedication, both David and Declan have delivered not just commercial success but have built thriving teams that are ready for the next stage of our growth in Ireland and Germany.”
Irish Life said the promotions would take place over a transition period to allow for regulatory approvals and the appointment of Mr Bolger’s successor at Canada Life Europe.