In December last year, MLC Life Insurance and Resolution Life Australasia announced they would be merging to form one of Australia’s largest life insurance businesses, operating under the name Acenda.
With this deal, Nippon Life acquired 100 per cent of Resolution Life Australasia, along with the remaining 20 per cent share of MLC Life that National Australia Bank had retained since Nippon initially acquired an 80 per cent stake in the insurer.
Almost a year on from the initial announcement, Nippon Life is set to officially complete its acquisition of Resolution Life at the end of October, triggering the final stages of establishing Acenda Group.
In preparation for this, Acenda has unveiled its group leadership team with appointments taking effect at the end of this month, joining Chris de Bruin who was appointed as future group chief executive of Acenda in June:
- Sean McCormack as group chief commercial officer to oversee product and distribution, as well as supporting the group’s expansion into longevity and retirement solutions.
- John Lucey as chief investment officer to head the group’s investment strategy and management of investment portfolios.
- Peter Histon as chief information officer to lead the group’s infrastructure transformation, modernisation and data initiatives.
- Andrew Beevors as group claims and innovation officer, taking on responsibility for the group’s claims function and driving innovation in claims and customer care.
- Lisa Hayes as group general council, taking on responsibility for the group’s legal and corporate services functions.
- Nupur Bhushan as interim group chief people officer to support the business through its initial integration phase while the firm looks for someone to take over the role on a permanent basis.
These C-suite appointments will join Grant Willis, CEO of Asteron Life in New Zealand, and Jane Murray who is chief operating officer for Acenda Life, along with group chief financial officer Yvonne Le Bas and group chief risk officer Karen Malzard, all of whom had been appointed in the last 10 months.
With the entire group leadership team reporting to de Bruin, the future group CEO said he is pleased to welcome the experienced executive team as Acenda approaches its next phase of operations.
“These appointments will be instrumental in leading the formation of the Acenda Group, as we aim to build a bigger, more dynamic business focused on growth, innovation and exceptional customer outcomes,” de Bruin said.
“The appointment of our new group chief commercial officer, Sean McCormack, is central to our strategy ensuring we position the business to capture growth by maximising our product and distribution capabilities.”
He added: “Together, our new leaders unite strong operational expertise, deep customer understanding, and strategic insight that will help drive our growth ambitions and transform how we support our customers and partners.”
Wow!