Otto Thoresen steps down after six years
Aegon UK has confirmed Adrian Grace will be its new chief executive.
Grace joined the Edinburgh company in February 2009 as director of group development and his current role is director of operations.
Previously he has held senior posts at GE Capital, Sage Group, HBoS and Barclays Insurance.
In the past year Grace has been leading Aegon UK's business transformation plan.
He said: "I am very pleased to have the opportunity to lead Aegon UK at such an important time for our business.
"I will continue with the strategy which the leadership team has introduced over the past twelve months.
"My aim will be to execute our plans well in order to achieve improved performance and leverage the strengths that benefit us as part of a global company.
"Aegon UK has the potential to be one of the winners in this market in the future and I'm looking forward to the challenges and opportunities ahead."
Otto Thoresen will leave the chief executive post he has held for six years at the end of this month.
He is moving to become director general of the Association of British Insurers and said: "I am incredibly excited about taking on this challenge and representing all parts of the insurance industry at this critical time.
"This is an industry I care passionately about and I will relish the opportunity to engage in crucially important debates with governments, regulators, customers and stakeholders.
"The insurance industry is facing very significant changes over the next few years and it will be vital that we punch our weight and contribute all we can to the challenges facing us."