As announced in December, Resolution Life Australasia and MLC Life Insurance are set to merge to form Acenda. It follows Nippon Life Insurance Company acquiring 100 per cent of Resolution Life as well as the final 20 per cent of MLC Life.
While still subject to regulatory approvals, the joint business will form one of the largest life insurance businesses in Australia and New Zealand.
In preparation, the firm has announced the appointment of Chris de Bruin as the future group chief executive of Acenda, taking over from the current CEO Kent Griffin and Resolution Life Australasia CEO Tim Tez upon completion of the transaction.
According to Acenda, the pair will “remain with the company for a period” to support de Bruin with his onboarding.
The new CEO brings a wealth of experience in the financial services and fintech industry, both in Australia and abroad, having held a number of C-suite roles across the sector.
More recently, de Bruin was the chief executive of consumer and business banking at Westpac Group before stepping down from the role in 2023 following a company restructure.
Prior to this, he was the CEO of Deem Finance in the United Arab Emirates (UAE), president of Canadian fintech Zafin, and chief strategist at South African digital bank 20twenty Financial Services.
Nippon Life president Satoshi Asahi said he is pleased to welcome de Bruin to Acenda and grateful to Griffin for his contributions to the group.
“I am confident that he brings the experience and strategic insight essential for steering the organisation through the integration process and beyond,” Asahi said.
“Under Mr de Bruin’s leadership, I believe the Acenda Group will enhance its position in the market while consistently delivering exceptional service and value to its policyholders. I look forward to supporting him as he embarks on this important journey to lead our Australian and New Zealand operations.”
Reflecting on the changes occurring in the life insurance sector, Resolution Life founder, chairman and CEO Sir Clive Cowdery said: “This is an important time for the industry in Australia and New Zealand, and Acenda’s customer-focused agenda will greatly benefit from Chris de Bruin’s strategic vision.”
Meanwhile, the incoming independent chair of Acenda, Craig Dunn, said that having worked with de Bruin in the past, he is confident in his “leadership and strategic insight” and the commitment he has for delivering an “exceptional experience for both customers and employees alike”.
As the company prepares to make its first steps as a combined group, de Bruin said he is excited to join “at the start of this new chapter” and work to build the future of the Acenda.
“Building on the foundations established under the leadership of Kent Griffin and Tim Tez, I look forward to working with our chair Craig Dunn, the board, our shareholders and the exceptional team across the Acenda Group to achieve our vision to provide outstanding service and value to our customers and partners,” de Bruin said.
