Lifetime Group founder and chief executive Warren Stephens has announced that he will retire at the end of March next year.
He says that during his 21 years with the company he has overseen 70 book and business acquisitions and grown the firm from 14 people to more than 110. Revenue has grown from $2 million in 1999 to around $20 million now.
Life insurance makes up 60% of the business and fire and general accounts for around 15%. The balance is split between mortgages and investments.
Stephens says he has "mixed feeling about the decision."
"I am immensely proud of what we have been able to achieve together throughout my 21 years in the industry and the 17 years served within the combined Argent/Lifetime Group."
"There comes a time when you have to listen to your heart while keeping in mind what's best for the team as a whole and the time has come for me to bow out."
He says there are changes happening at Lifetime and it will be up to the new leaders to take the the company forward.
Stephens will remain a shareholder in Lifetime. "I remain committed to what Lifetime represents and I fully intend to remain a cornerstone shareholder," he says.
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