Ms Rubin has been a TAL director since 2007 and has been the chair of the investment committee and a member of the technology and innovation committee.
The period saw the acquisition of the group by Japanese group Dai-ichi Life, which was completed in 2011 with a move away from the group's previous name of Tower.
Mr Thomas said Ms Rubin had been an outstanding director over her tenure and made "a tremendous contribution during a period of major evolution and growth for TAL".
"We sincerely thank her for her team work, expertise, hard work and dedication, and wish her every success in future," he said.
The period also saw the group double its size to around $1.55 billion of life premiums at 31 December 2012.
