Resolution Life has appointed Nardeep Sangha as CEO new markets with responsiblity for sourcing new opportunities in reinsurance and life, particularly focusing on new risk markets and broader geographies including Asia and Europe.
The Resolution group first made its name in the UK by acquiring Friends Provident in 2009 followed by Axa and Bupa’s life assurance businesses in 2010, combining them into the Friends Life business which it sold to Aviva in 2015 for £5.6bn.
Based in London and joining the group’s executive committee, Sangha reports to Sir Clive Cowdery, the firm’s founder and executive chairman.
Sangha (pictured) joins Resolution Life from Swiss Re where he had been global head of life and health structured solutions since November 2011.
The trained actuary began his insurance career at consultancy firm Watson and has worked in capital markets at Sumitomo Bank and Deutsche Bank. While at Deutsche Bank he was CEO and CIO of Abbey Life and was on the board of insurer Paternoster.
$1.6bn capital raising completed
Sangha joins Resolution Life following its latest round of capital raising which saw the company raise around $1.6bn of new equity.
In the past 12 months, Resolution Life has completed the acquisitions of AMP Life in Australasia for AUD$3bn and Voya Financial’s, US$1.25bn individual life in-force business in the US.
Commenting on Sangha’s appointment, 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 added: “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.”
