Resolution Life appoints Non-Executive Directors – Maria Morris and Rachel Lomax
- Maria Morris is an experienced life insurance executive who sits on the boards of Wells Fargo & Company and S&P Global Inc. and most recently served as Executive Vice President at MetLife
- Rachel Lomax is the Former Deputy Governor of the Bank of England and also sits on the boards of Heathrow Airport Holdings, Serco Group plc and the British Council
- The two appointments come at a time of rapid growth for Resolution Life since September 2018 following completion of a reinsurance transaction with Symetra Life Insurance Company and the acquisition of AMP Life in Australia, which is expected to close in 1H20.
Resolution Life is delighted to announce the appointment of two high-profile Non-Executive Directors – Maria Morris and Rachel Lomax – to its Board at a time of expansion following announcement of the A$3 billion acquisition of AMP Life in Australia.
Maria most recently served as Executive Vice President of MetLife Inc., where she worked for 33 years. While at MetLife, Maria doubled the company’s Global Group Life, Health, Pensions and Credit businesses and oversaw the successful integration of MetLife’s $16.4 billion acquisition of American Life Insurance Company (Alico).
Maria also has strong Board experience – sitting as an Independent Director for both S&P Global Inc. (since 2016) and Wells Fargo & Company (since 2018).
Rachel Lomax is an economist and former Deputy Governor of the Bank of England and has held a range of responsibilities within Her Majesty’s Government including: Permanent Secretary of the Department of Work & Pensions, the Department for Transport and other senior positions within the World Bank, the UK Cabinet Office and the UK Treasury.
Rachel is currently Deputy Chair of the British Council and holds Non-Executive positions on ther Boards of Serco Group plc (the FTSE 250 outsourcer), Heathrow Airport Holdings. Her considerable Board experience includes directorships at HSBC, Holdings pls, Reinsurance Group of America, Scottish American Investment and the Arcus European Infrastructure Fund;
Sir Clive Cowdery, Executive Chairman at Resolution Life, commented:
“I am pleased to be able to welcome Rachel and Maria to the Board of Resolution Life, with their decades of experience both from within business and at Board Level.
“These appointments will enhance our ability to serve the life insurance industry, grow our business and deliver policyholder benefits in a secure, well-capitalised environment.”
Maria Morris, Non-Executive Director of Resolution Life, commented:
“I am delighted to join the Board of Resolution Life. The management team has a proven track record of acquiring and managing Life businesses in the US and globally. Having spent my career in the Life Insurance industry, I understand the integral role Resolution Life plays and am excited about the future.”
Rachel Lomax, Non-Executive Director of Resolution Life, commented:
“Resolution Life is a leading force within a global life insurance world that continues to grow and mature. I am delighted to be working with Clive and his team, and I am looking forward to driving the business towards further success both in the UK and abroad.”
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Notes to Editors:
About Resolution Life
Since 2003, various Resolution entities have committed US$13.6bn of equity in the acquisition,
reinsurance, consolidation and management of 27 life insurance companies. Together, these
companies have served the needs of 10 million policyholders while managing over US$300bn of
Resolution Life has operations in London, the United States, Australia and Bermuda. Resolution Life
provides a safe and reliable partner for insurers as they re-structure by:
• Focusing on existing customers, rather than seeking expansion by new sales
• Delivering policyholder benefits in a secure, well capitalised environment
• Returning capital over time to our institutional investors in the form of a steady dividend yield
Download as a PDF: Resolution Life appoints two NEDs