Life insurance consolidator Resolution has unveiled Lloyds Banking Group general insurance chief executive Andy Briggs as the next chief executive of Friends Provident.

Briggs will take the place of current chief executive Trevor Matthew in the next six months with the latter becoming vice chairman of the life insurer.

Matthews is set to return to his native Australia within the next three years with his family, making way for Briggs to prepare for an 'anticipated return to direct public market ownership'.

Resolution expects Friends Provident to return to independent ownership within the next two to three years.

Malcolm Williamson, chairman of Friends Provident, said, 'There are a number of huge challenges and opportunities facing the UK life assurance industry and a significant agenda of work in creating value from Resolution’s life consolidation project.

'The project is making strong progress and I am looking forward to continuing to work with Trevor as vice chairman and with Andy as the chief executive who will take the business through to a successful realisation of value for Resolution’s shareholders.'

Briggs was formerly chief executive of Scottish Widows and previously spent 19 years at Prudential, most recently as chief executive of retirement income.