The firm says Mr Bolton brings “extensive experience of the life and pensions market” having spent 11 years at Aviva Life UK, five of which were as managing director of retirement solutions.
He is currently a consultant with the International Longevity Centre and a non-executive member of the Civil Service Pension Scheme Advisory Board.
Subject to regulatory approval, Mr Bolton will replace John Perks who is leaving to join the Police Mutual Group as chief executive in April.
Richard Rowney, LV chief executive, said: “John has played a key part in taking the life business from sales of £500m a year to over £2bn and leaves an organisation well placed to deliver on its goals for customers, members and advisers.
“We wish him every success in the future.
“Clive Bolton is a hugely impressive business leader with a proven track record of growing and developing life businesses based around the needs of customers and advisers.
“He brings an extensive understanding of the life and pensions market and I’m confident that he’ll contribute significantly to LV’s future success.”