Joining Scottish Equitable in 1971, Mr Henderson became a central figure in the firm’s evolution, most notably co-orchestrating its demutualisation and subsequent takeover by the Dutch insurer Aegon during the 1990s. He assumed the role of chief executive in 1999 under the somber circumstances of his predecessor’s sudden passing.

He asserted his leadership by overseeing the £702 million acquisition of Guardian Royal Exchange’s life and pensions business, a move that cemented Aegon’s standing in the UK market.

Known to colleagues as “Hendo”, he was celebrated for a robust, no-nonsense managerial style and a preference for straight-talking colleagues. Peers regarded him as a giant of the Scottish life assurance sector, noting that his firm leadership was matched by a grounded sense of humour regarding his own career longevity, Daily Business reports.

Outside the boardroom, Mr Henderson was a dedicated golfer and a lifelong supporter of Heart of Midlothian FC. He is survived by his wife, Mary, and their two children, leaving behind a legacy defined by professional integrity and the successful modernisation of a Scottish financial institution.