Mutual investment and insurance provider Royal London has selected experienced financial services executive Isabel Hudson to be its next chair and a non-executive director.

She will take over as chair of the Royal London Mutual Insurance Society Limited with effect from 10 February.

Lynne Peacock, current interim chair, will step down from the board on 9 February. 

Ms Hudson has had several senior roles in insurance, pensions and regulation, together with non-executive roles in the telecoms and house building sectors.

She is currently a non-executive director at AXA SA and chair of Guide Dogs. She has also been on the boards of RSA Insurance Group, Phoenix Group Holdings, BT, the National House Building Council, The Pensions Regulator and Standard Life. 

Barry O’Dwyer, group chief executive, said: “Isabel is an excellent choice to be the next chair of the board of Royal London. Royal London is a customer-owned mutual and Isabel shares my passion for mutuality. I am looking forward to working with her to deliver even more for the customers we serve. 

“I also want to thank Lynne Peacock, interim chair, who will be stepping down from the board, and I wish her every success for the future.” 

Ms Hudson said:  “I am delighted to join the board of a company with a long and distinguished history of mutuality and a strong sense of purpose. Royal London’s commitment to helping build financial resilience is particularly important to me. I look forward to working with the Board and wider management team and focusing on delivering long-term value for our members and customers.” 

Interim chair Lynne Peacock said: “Isabel brings significant financial services insight and an impressive board portfolio, including experience from other sectors. Her deep understanding of the key markets in which Royal London operates will be of immense value to the Royal London board and its members. I wish Isabel and Royal London the very best for the future.” 

Royal London is one of the largest mutuals in the UK and has assets under management of £169 billion, 8.5 million policies in force and over 4,400 employees as of 30 June.