Resolution Life, a long-term manager of legacy life insurance portfolios, has named a new chief executive officer (CEO) for new markets.
Nardeep Sangha joins Resolution Life from Swiss Re where he was global head of life and health structured solutions since November 2011. He began his insurance career at consultancy firm Watson.
He has also worked in capital markets at Sumitomo Bank and Deutsche Bank. At Deutsche Bank he served as CEO and chief investment officer of Abbey Life, and was on the board of Paternoster, the insurance company that targeted pension funds.
At Resolution Life Sangha takes on responsibility for sourcing new opportunities in reinsurance and life in new risk markets and broader geographies including Asia and Europe. He is based in London and reports to Sir Clive Cowdery, Resolution’s founder and executive chairman of Resolution Life. He also joins the Resolution’s executive committee.
Sangha said: “I am joining Resolution Life at an exciting time for the group and am thrilled to be joining a team that has pioneered change in the life insurance industry. By placing the in-force customer at the top of the priority list, Resolution Life serves the interests of both insurers and policyholders. The opportunity to do more transactions from its global platform is compelling.”
Resolution Life recently completed its latest round of capital raising, securing around $1.6 billion of new equity. In the past 12 months it has completed the acquisitions of AMP Life in Australasia for AUD$3 billion and Voya Financial’s $1.25 billion individual life in-force business in the US. Combined with its Bermuda reinsurance base, Resolution Life now manages around $60 billion of assets.
Resolution Life, Nardeep Sangha, Clive Cowdery