Tom Ault has succeeded Amy Ellison as Chief Executive Officer of Legal & General Reinsurance, the international reinsurance business of Legal & General Group.
Ellison, who served as Chief Executive Officer of L&G Re since 2021, will return to London to take up the role of Chief Internal Auditor for L&G.
Ault joined L&G Re in 2019 as Chief Business Development Officer and has since reportedly played a key role in the business’s growth, leading its external reinsurance activity, developing strategic client relationships and supporting new market initiatives.
He has more than 25 years of experience across the reinsurance and pensions industries in the UK, Canada and Bermuda.
L&G stated that the appointment reflects L&G Re’s continued growth and its strategic importance within the wider group’s Institutional Retirement business.
L&G Re supports the Pension Risk Transfer (PRT) market across the UK, US, Canada and Europe through annuity and reinsurance solutions, helping clients manage risk, meet their long-term obligations and provide financial security for their customers.
Gareth Mee, CEO, Institutional Retirement commented, “Institutional Retirement has a central role to play in L&G’s growth story, with Bermuda providing the scale and capital efficiency that underpin our international ambitions.
“Tom has been instrumental in building L&G Re into the successful business it is today and his extensive industry experience, commercial expertise and deep understanding of our clients make him exceptionally well placed to lead the business as we continue to scale internationally and pursue new growth opportunities.”
Ault added, “Having been part of L&G Re’s journey over the past seven years, I have seen first-hand the strength of our team, our client relationships and the business we have built.
“I am excited to lead the next chapter for L&G Re and look forward to working closely with our partners as we continue delivering innovative reinsurance solutions and long-term value.”
