Rich Bielen, CEO of Protective Life since 2017, is retiring at the end of 2026 and will be succeeded by president and CFO Paul Wells.
“Serving as CEO of Protective has been an honor,” Bielen said. “I am incredibly proud of what our team has accomplished together and deeply grateful to work alongside so many talented colleagues. Paul has been an integral part of Protective’s growth strategy for many years, and as I look ahead, I have great confidence in him, our leadership team and the strong foundation we’ve built together to support the company’s continued success.”
Wells was appointed president and CFO in January and has been with Protective for 20 years.
“Paul brings a strong leadership mindset, a focus on the customer and a commitment to teamwork that aligns closely with our strategy and culture,” said Michael J. Morrissey, chairman of Protective’s board of directors. “We are confident in his ability to lead Protective in its next chapter of growth.”
During Bielen’s tenure as CEO, Protective’s assets have grown from $75 billion to $142 billion, with revenue growing from $4.5 billion to $8 billion.
“Rich has led Protective through one of the most transformative periods in the company’s history,” Morrissey said. “He is a values‑driven leader who genuinely cares about people and has always been guided by doing the right thing for our customers, teammates and partners. Just as importantly, Rich has been intentional in building a strong leadership team and prioritizing a smooth transition to ensure Protective’s continued success. His impact on this company will be lasting, and we are grateful for his leadership.”
