Richard Bielen (Photo: Protective)

Richard Bielen is preparing to take over as the chief executive officer of Protective Life Corp. July 1.

John Johns, the current CEO, will become the company’s executive chairman, the company said last week.

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The Birmingham, Alabama-based insurer is a subsidiary of Tokyo-based Dai-Ichi Life Holdings Inc. Dai-Ichi Life acquired the company in 2015.

Johns, 65, has been an executive at Protective Life since 1993. He succeeded Drayton Nabers Jr. as the company’s CEO in 2002.

Johns has served as chairman of the American Council of Life Insurers, and he helped lead a campaign for the University of Alabama at Birmingham that raised $1 billion.

Bielen, 56, has been an executive at Protective Life since 1991. He became the company’s chief investment officer in 2002. He took over as the chief financial officer in 2007. He became president and chief operating officer in 2016. Since 2016, he has run the company’s life and annuity business.

Protective Life has about $75 billion in assets.

— Read CFO Leaves Life Insurer on ThinkAdvisor.