Resolution Re announces Steve Hales as CEO
Resolution Re, the Bermuda-domiciled reinsurance company within the Resolution Life Group, is delighted to announce the appointment of Steve Hales as Chief Executive Officer.
Prior to joining Resolution Life Group in 2017 as Executive Director of Europe, Steve was Group Head of Connected Insurance at Assicurazioni Generali where he led Data Science and ‘Internet of Things’ capabilities across the group. He initially moved to Assicurazioni Generali in 2013 to head up its newly-created Global Life business line.
Steve was previously Head of AXA’s Life and Savings business across its Southern Europe, Latin America and MENA markets.
Resolution Re completed a $5.7 billion reinsurance transaction with Symetra Life Insurance Company in September 2018. Resolution Re supports the Resolution Life Group in its mission to provide a safe and stable environment for the management of in-force life insurance policies.
Sir Clive Cowdery, Executive Chairman at Resolution Life, commented:
“Steve is well placed to build our reinsurance business given his previous experience in global life markets and his contribution to the launch of Resolution Life Group.”
Steve Hales, CEO of Resolution Re, commented:
“I am excited to begin my role heading up Resolution Re. The life insurance industry is going through a deep transformation in a difficult macroeconomic environment. By providing a safe harbour for the sector’s existing policyholders, I believe that Resolution Re can genuinely help insurers through these challenging times. The next couple of years promise to be a lot of fun as we expand Resolution Re across different markets across the world.”.
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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 assets.
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
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