Under his leadership the business portfolio was restructured through the closure of its banking operation in 2007 and IFA in 2008. There have also been several targeted acquisitions - Tomorrow in 2007, Highway and Britannia Rescue in 2008 plus a majority shareholding in Wealth Wizards Ltd in 2015.
A further acquisition is planned of the majority of Teachers Assurance business lines in 2016.
Under his leadership, gross earned premiums increased from £630 million to £2.4 billion, a £20.1 million operating loss has been turned into a £195 million operating profit and total assets have grown from £8.2 billion to £14.5 billion.
LV= Chief Executive, Mike Rogers, said:
“It's been a privilege to lead LV= for a decade, alongside a great team. Ten years is a significant milestone and it now feels the right time to let a new team shape the next decade. LV= will always be special for me and I look forward to seeing its members, customers and people thrive.”
Mark Austen, Chairman, added:
“On behalf of my fellow board members, and I would hope our one million or more members, I would like to thank Mike Rogers for the outstanding service he has provided the Society over the last ten years. Under his leadership LV= has been transformed into the successful and profitable financial mutual it is today with a special place in the financial services market. The process to appoint a successor is underway and Mike Rogers will continue to lead the business for the remainder of the year, and into 2017 as required, to ensure a smooth transition.”