Friends Life managing director for UK protection Steve Payne is to leave Friends Life following a post-Budget review conducted by the insurer.
Group protection director David Williams is also set to leave but will continue in an interim role until the beginning of 2015.
In a statement, the insurer said: "Changes brought about as a result of the Budget earlier this year mean that customers have greater flexibility and more choice than ever before. At Friends Life, we are well placed to help our customers understand all the options now available to them.
"Prior to the Budget, we had anticipated a large amount of change in the retirement market and had already taken steps to increase our focus in this area. The Budget proposals coming into force next year have simply accelerated the work we were doing in this area.
"In order to meet the needs of all of our existing and potential customers as well as advisers, Friends Life has today announced a new structure for its UK Business, which supports our growth ambitions."
Meanwhile, the insurer said that Williams will "work on building a structure that ensures we retain the strong momentum delivered within out protection proposition."
Friends Life added: "David will work with us until the beginning of 2015, when he will leave the group to pursue other opportunities."
The restructure will mean that the Friends Life UK business will be split into four areas: workplace and intermediated; customer; proposition; and pricing and customer service.
