Both appointments are effective from 01 July and subject to regulatory approval.
Kennedy joins LV= from MLC Life Insurance, based in Melbourne, Australia where she is general manager business design and change and was previously chief underwriting officer.
She also has group head of protection strategy at Royal London and a variety of protection roles at Scottish Equitable, Swiss Re, Axa and Capita on her C.V.
LV said Bolton’s move to concentrate on the retirement solutions and heritage business reflected the company’s increased focus on the retirement sector where he has the necessary deep expertise and experience to help LV= in this important market.
Debbie will join Clive on the executive team and both will report directly to chief executive Richard Rowney.
Richard Rowney, LV= chief executive, said: “Debbie brings a real breadth of expertise in protection to our business along with strong leadership skills having worked in a number of diverse environments.
“We have big ambitions for both our protection and retirement businesses and with Debbie and Clive at the helm I’m confident we’ve got the right leadership to enable LV=’s continued success.”