The reinsurance arm of Bermuda-based Resolution Life Group, Resolution Re, has announced the appointment of Steve Hales as Chief Executive Officer (CEO).
Hales joined Resolution Life Group in 2017 as Executive Director in Europe, and prior to this, served as Group Head of Connected Insurance at Assicurazioni Generali where he led Data Science and Internet of Things capabilities across the group. He first joined Generali in 2013 to lead its newly established Global Life business line.
Prior to this, Hales worked as Head of insurer AXA’s Life and Savings business across Southern Europe, Latin America, and MENA markets.
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.”
Commenting on his appointment, Hales said: “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.”
Last year, Resolution Re completed a $5.7 billion reinsurance transaction with Symetra Life Insurance Company, designed to transfer financial responsibility for all of Symetra’s structured settlement annuity contracts and a smaller block of income annuities to Resolution Re.