He will step down as chief executive at the Ailo annual general meeting in October.
Bob Pain, who has been chair of the association since 2015, will succeed Morgan-Moodie as chief executive. Pain will continue in his role as chair on an interim basis until a replacement can be appointed.
From offshore to international
Speaking about his retirement, Morgan-Moodie said: “Over several decades I have seen endless change and development in this dynamic industry. I am proud to have been a part of it and to have helped influence its direction in many ways.
“Although I am standing down from my official capacity within Ailo, I will remain close to the association that I have been a part of since its first meeting on the Isle of Man in 1987, when it was called the ‘Offshore Life Offices Association’.”
The name was changed in 1990 to “reflect the international, as opposed to purely offshore nature of its member companies’ business”.
Morgan-Moodie added that the role of Ailo “remains paramount” in representing its members’ interests and educating the market, “especially with the huge amount of regulatory intervention”.
Morgan-Moodie started his career in the industry in 1973, when he joined Abbey Life Assurance Company in Scotland. In 1986, he moved to the Isle of Man to set up Albany International Assurance where he was sales & marketing director.
He then went on to set up his own consultancy, Morgan-Moodie Associates, which led to contracting roles with several life companies; including Clerical Medical, Scottish Mutual International, Credit Suisse and Scottish Provident International.