Briggs had been on gardening leave from Aviva until last month

Former chief executive of Aviva UK Andy Briggs has been appointed as the new head of FTSE 100 life insurer Phoenix group.

Industry veteran Briggs left Aviva in October having been on gardening leave since April. He takes over from Clive Bannister, who has been with Phoenix for nine years and retires in March next year.

Briggs will be paid £800,000 a year and receive a pension allowance of 12% of salary, alongside other incentives.

Briggs CV includes group chief executive of Friends Life, managing director of Scottish Widows, chief executive of the retirement income division at Prudential and chairman of the ABI.

He is a trustee and chair of the income generation committee of the NSPCC and also serves as the UK Government’s Business Champion for the Ageing Society. 

Commenting on Briggs’ appointment, outgoing CEO Bannister said was ”delighted to welcome Andy as CEO-designate.

”He is the ideal candidate who combines deep knowledge of the Open and Heritage life businesses, strong integration and M&A skills and a proven track record in driving a radical change agenda for major UK insurance businesses. I am proud of all that we have achieved and I’m confident that I leave the Group in good shape for my successor.”