MLC Life Insurance has appointed Michael Downey as its new General Manager, Retail Distribution Partnerships, responsible for the strategic and operational leadership and direction of the Retail Distribution Partnerships function.

Michael will report directly to Chief Life Insurance Officer, Michael Rogers, and join MLC Life Insurance on 22 March. He will replace outgoing GM, Russell Hannah, who will leave the life insurer on 26 March.

Michael has more than 30 years’ experience in financial services, including advice and licensee strategy, strategic product development, distribution strategy and management. He has held senior executive roles in advice partnerships, wealth distribution, retail insurance, retail investments and group insurance. Most recently, he was the General Manager of Advice Partnerships with responsibility for leading the MLC Advice Licensees. Prior to that he led the MLC Wealth Strategic Accounts, IFA and Self-Employed Distribution teams, and has also held executive management roles at Tower Australia, CommInsure and AXA Australia

Michael Rogers, Chief Life Insurance Officer, MLC Life Insurance, said:

“I am delighted that Michael has joined us as we enter the final phase of our technology upgrade. His deep experience and leadership skills will be central to delivering our retail distribution strategy and management.

Michael Downey said:

“I am thrilled to be joining MLC Life Insurance. I’ve a long-standing admiration for this iconic Australian life insurer, which is soon poised to leverage its significant investment in technology in order to excel in servicing licensees and advisers. I’m looking forward to leading the distribution and adviser servicing team”.

Departure of Russell Hannah

MLC Life insurance also acknowledges the significant role that Russell Hannah has played over recent years. He has been an important member of the leadership team and reinvigorated MLC Life Insurance in the adviser and licensee markets, seeing our market share increase significantly.

Michael Rogers said:

“I’d like to thank Russell for his strong contribution and commitment to our customers and our business, as well as for his committed leadership of our retail adviser teams. I wish Russell well as he moves into the next phase of his career.”