Alun Beynon, the head of Aegon's individual protection business, will step down from December.
Beynon, who heads up Aegon's individual protection sales and distribution development business, will leave on 3 December to assess other opportunities in the protection market.
His departure comes a month after Aegon UK said it would retain its protection and life insurance offerings due to their "significant overlap" with its chosen core markets. Many commentators had expected the provider to exit the protection space.
The individual protection sales team will now report to Andy Rowson, Aegon 's director of partnership sales.
Beynon has been with Aegon and previously with Guardian for a total of 26 years.
He was part of the senior management team which launched Aegon's individual protection proposition in UK in 2001, after its acquisition of Guardian's life and pensions operation in 1999.
Beynon says: "I am enormously proud of what Aegon has achieved over the last 10 years and I will be looking at further opportunities to make a positive impact in the UK protection market."
Duncan Jarrett, sales director at Aegon says individual protection remains a "core part" of Aegon's proposition.
"We would like to thank Alun for his considerable contribution over the years and wish him well in whatever he decides to do in the future."
