Pain, who had been AILO’s deputy chairman since 2012, was elected during the association’s annual general meeting.
He is currently managing director of global insurance company Investors Trust Assurance, and his experience within the financial services industry spans over 25 years.
News emerged in June that Liljeberg was planning to stand down from his role as AILO chairman after deciding to leave his position as managing director of SEB Life International. He will remain a member of AILO’s management committee.
“I look forward to ensuring that AILO remains current and relevant to its members’ needs, focusing on the important global issues facing our industry,” said Pain.
Voting also took place at the meeting for a number of other management committee positions: including Fabrice Sauvignon of La Mondiale as deputy chairman, and Xavier Nevez of Zurich Eurolife and Mark Callow of Old Mutual International as members’ representatives.
Jeffrey More of LCL International Life Assurance was re-elected as treasurer.
“Bob will be an excellent chairman of the association. Many thanks to Nils Liljeberg, on behalf of the Membership, for all his hard work and support to AILO,” said AILO chief executive Alan Morgan-Moodie.