Declan Bolger is to become the new chief executive of the Irish Life Group.

He will take over from David Harney, who is moving to a new role as President and chief operating officer for Europe at Irish Life owner, Great-West Lifeco.

Prior to his appointment, Mr Bolger had spent the last ten years as CEO of Irish Life sister company, Canada Life Europe, which he helped to found two decades ago.

Employing 600 people in Dublin, Cologne and Neulsenburg, it offers retirement savings and protection products to 500,000 customers in Germany.

 "I'm excited to take on a new challenge as leader of our Irish business," he said.

"Working with the Canada Life Europe team over the last 20 years has been a great honour. Canada Life is now established as one of the leading brands in the German broker life market with great prospects to grow further."

Mr Harney had previously been CEO of Irish Life Group for four years, during which time it expanded its service offering. 

Prior to that, he led the company’s corporate business.

"The past four years as CEO have been a fantastic experience working with such an innovative, dynamic and customer-focused team at Irish Life," he said.

"We are very proud of our market leading position in Ireland working to help people build better futures."

"Our parent Great-West Lifeco continues to invest substantially in Dublin and the Irish market where we see significant growth potential."