A New England life insurer has named a new top executive.

NLV Financial Corp., Montpelier, Vt., the parent of National Life, says Mehran Assadi will be taking over for Thomas MacLeay as president and chief executive officer Dec. 31.

MacLeay, who also is chairman, will continue to be chairman of the company, NLV says.

Assadi now is president of the National Life Group’s life and annuity division.

The company generates about $1.4 billion in annual revenue and provides coverage for 700,000 customers.

Assadi has a bachelor’s degree from Towson University and a master’s degree in management information systems from the University of Baltimore.