Resolution Life Australasia’s leadership team will be shaken up for 2023.
The company has confirmed that current CEO Megan Beer will take on the COO role of Resolution Life Group in London next year as part of the planned succession for the retirement of John Hele who will continue on as President and COO until July 2023.
Taking over as CEO of Resolution Life Australasia from February 2023 will be Tim Tez, who is currently the CEO of Medical Indemnity for Avant Mutual and previously worked at AIA.
Mr Tez will bring over 20 years’ experience to the position.
“We are pleased with the development of the Australasian business and are certain that with Tim’s expertise, experience, and leadership, Resolution Life will continue to grow as the leading in-force specialist life insurer in Australasia,” Resolution Life Group executive chairman and founder, Sir Clive Cowdery said.
“I would like to thank Megan for the outstanding job she has done in successfully overseeing the transition from AMP to Resolution Life. We appreciate her willingness to take on greater responsibilities in our global organisation and look forward to her move to the new role.
“I would also like to take the opportunity to thank John for his leadership during these last years of rapid growth for Resolution Life.”
The moves come after Resolution Life Australasia severed ties with AMP last month.
On 29 June, AMP completed the divestment of its remaining 19.13 per cent equity interest in Resolution Life Australasia to Resolution Life Group, initially announced on 3 November 2021.
AMP Life was originally sold to Resolution Life Group in 2020 for a consideration of $3 billion, including the equity in Resolution Life Australasia.
Resolution Life Australasia confirmed that since acquiring the majority interest in AMP in 2020, it has been focused on establishing its Australasian platform and transforming the business to become more data-driven, digital and customer-focused.
The 2hr plus wait time is not an exception, it is the norm. We have at least 1 of 4 support staff tied up on hold most days, looking to clarify information, order quotes etc. If you send them an email or leave a message, you are never called back. I am still awaiting a call back form April. I have a reduction in sum insured take 8 weeks to be processed. It is a serious mess there and as good as Tim may be, he is onto a hiding to nothing. Actually when i think about it, anyone good would not want that role.
Can advisers lodge AFCA complaints on behalf of their business due to Resolutions poor service? The amount of money I am losing due to poor service, wait times, incorrect admin is astounding!
Last week, I waited in the Adviser Help Line queue for 2 hours & 20 minutes before giving up. And this was not the first time – previous time was a 2-hour wait also. I agree that the insurer is a total basket case. In SA, Res Life terminated their only BDM at the end of financial year. No correspondence, no advance warning – if the BDM herself had not advised us, we would be none the wiser. So, their incompetence will continue unchecked. We are also experiencing skyrocketing premiums, missing renewal notices, an inability to complete even the most simple policy alteration requests in a timely manner and often after more than one go at it; and yes, the new website is useless. I think they should be fined – advisers are held to a standard, but unfortunately not Resolution Life. And they have the audacity to refer to themselves in their press release as ‘the leading in-force specialist life insurer in Australasia’…Well, not in Australia they are not!
Yes, if Resolution is a leading insurer in Australasia, it must be due to a very good NZ operation!
I wouldn’t be promoting anyone from Resolution Life Australia. The insurer is an absolute basket case. Call centre times are ridiculous, website is absolute tripe, missing client premiums, skyrocketing premiums. It’s basically MLC 2.0. Look how that ended for MLC – an ASIC fine!
Sounds like Resolution Life has been transformed into a trendy catch phrase driven business. Clients can only hope that one day “reasonably priced premiums” becomes a trendy catch phrase.
And that their customer service helpline team begin to pick up the phone……