National Life Group has announced that Thomas MacLeay will retire as president and CEO of the group by the end of 2008.

Mr MacLeay joined National Life in 1976 as a security analyst, rapidly advancing through the management ranks and serving in pivotal positions at critical times in the company’s growth and expansion. He became president and COO in 1996; in 2002 he was named CEO and chairman of the board.

David Coates, lead independent director, said: Tom has worked to grow and diversify the businesses so that today the company has an excellent and healthy balance of business, with about a third of its assets under management from life insurance, a third from annuities and roughly 25% from Sentinel Investments, our asset management company.