Resolution Life nabs Swiss Re exec to steer expansion into new markets

Resolution Life, a long-term manager of legacy life insurance portfolios, has hired a  Swiss Re executive for a key role to source new opportunities in reinsurance and life, with a particular focus on new risk markets and broader geographies including Asia and Europe.

Nardeep Sangha joins Resolution Life as chief executive officer (CEO) for new markets. Based in London, he will report to Sir Clive Cowdery, Resolution’s founder and executive chairman. He will also join the company's executive committee.

Sangha comes 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.

The key appointment comes on the heels of Resolution Life's latest round of capital raising which saw the company raise $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.

Cowdery said: “Nardeep’s experience in insurance and capital markets will be valuable to Resolution Life as we expand our footprint. I look forward to welcoming Nardeep to the team and working closely with him as we help global insurers release capital and provide a safe long-term home for policyholders.”

Sangha commented: “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.”

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