StockMarketWire.com - Insurance company Chesnara said that John Deane would retire from the company and step down as chief executive by the end of the year.

Steve Murray would be appointed as Deane's successor upon securing regulatory approval.

Murray held a 'number of awards under the various incentive plans of his previous employer, The Royal London Mutual Insurance Society, and replacement awards will be granted upon his appointment as Group Chief Executive in line with Chesnara's Remuneration Policy,' the company said.

***A previous version of this article incorrectly stated Deane was CFO in the headline, not CEO.***

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