Tributes have poured in for the much respected CEO who became chief executive in January 2017 after a period as deputy chief executive.

His role at the Glasgow-based mutual will be taken by the current deputy chief executive Martin Pringle, the society announced today.

Scottish Friendly said Mr Galbraith had been at the “heart” of the society for over 30 years, showing unlimited passion for the mutual life office and helping build its success.

Recently he won the IoD Scotland Director of the Year award, capping several years of growth for the business.

He had worked for Scottish Friendly for 33 years and prior to that at Scottish Life as a marketing actuary.

Mr Galbraith was known for his “presence, dry humour and friendship,” the society said. He had built an experienced team focused on “maintaining the historic vision for the mutual.”

Neil Lovatt, commercial director of Scottish Friendly, said: “Jim was my friend, and a great friend to so many in Scottish Friendly. We were lucky to have him in our life office. 

“He believed fundamentally in the mutual ethos of Scottish Friendly and had a keen sense of its heritage and historic mission. To that end he built an incredibly deep and strong team committed to our vision and dedicated to continuing Scottish Friendly’s successful strategy. It is for us, the employees of Scottish Friendly, to honour his faith in us and continue to deliver for our current and future members.”

David Huntley, chair of Scottish Friendly, said: “This is, understandably, a terrible shock for all of us at Scottish Friendly and our thoughts and prayers are with Jim’s family at this difficult time. We are also providing support to our staff, many of whom have known Jim for a significant amount of time.”

Martin Pringle, Acting CEO of Scottish Friendly, said: “This is an incredibly difficult time for everyone in Scottish Friendly. Jim led this historic organisation with passion and vision, and he will be greatly missed by everyone. No one wants to take on an organisation in such circumstances but, having worked closely with Jim over the years, together with everyone in Scottish Friendly I will continue to take the society forward and ensure that Jim Galbraith would be proud of us all.”

The cause of death or circumstances have not been released.