Athene taps former NAIC chief to help regulatory relations effort
The former chief executive officer of the National Insurance Commissioners has joined Athene Holding to help leads its regulatory relations.
Bermuda-based Athene, one of the world's largest long term insurers, said Michael Consedine (pictured) joined Athene as executive vice president, head of US government and regulatory relations on Monday.
Consedine will report to John Golden, who has been named executive vice president, global head of insurance regulation for Apollo and Athene.
These new roles will advance Athene’s external engagement and growth strategies.
In addition, Joe Cohen has been promoted to executive vice president and general counsel for Athene, a role previously held by Golden. Cohen was previously group deputy general counsel.
Jim Belardi, chief executive officer of Athene, said: “Over the past decade, we have grown Athene into the leading retirement services company, as well as one of the best-capitalised financial services companies in the world.
Today, we have an opportunity to collaborate with regulators and stakeholders to move our industry forward by promoting retirement savings and ensuring the regulatory environment allows consumers to benefit from principal protected products. We are pleased to welcome Mike and look forward to him advancing these efforts with John.
“The need for financial security is ever increasing and John, Mike and Joe will be pivotal to our continued growth.”
Consedine, who stepped down from NAIC in April, said: “I’m excited about contributing to Athene’s global strategic vision, focusing on retirement income in the US and ensuring that our state-based insurance system remains world-class and tailored to the unique needs of the US market and consumers.
"In this role, I will work with a range of stakeholders to shape the future of the industry and help them better understand the substantial solutions that Athene brings to the retirement crisis.”
Consedine was CEO of NAIC from 2017 until 2023, he focused on strategic planning, policy development, and implementation in the areas of state, federal, and international affairs and relations. He was named to the executive committee of the International Association of Insurance Supervisors in 2019. Prior to the NAIC, Mike served as the global head of government and policy affairs at Aegon and prior to that as the Insurance Commissioner for Pennsylvania from 2011 to 2015.
Golden joined Athene in 2010, leading the legal and compliance department since 2015 and becoming an Apollo partner in 2022. In his new role, Golden will oversee Apollo’s global supervision responsibilities, regulatory strategy and risk management and relationships with insurance regulators and industry associations globally.
In Cohen’s capacity as general counsel for Athene, he will focus on corporate legal affairs, ensure compliance with laws and regulations, develop legal strategies for the company and provide legal representation with respect to the Company’s global growth initiatives. Cohen joined Athene in 2019 and previously served as SVP, group deputy general counsel.
Athene and other long term reinsurers have come under increased regulatory scrutiny recently.
