KUALA LUMPUR, April 4 (Bernama) -- Resolution Life Group Holdings L.P. (Resolution Life) has announced the formation of its new Representative Office in Singapore, following recent approval by the Monetary Authority of Singapore.
Resolution Founder and Executive Chairman of Resolution Life, Sir Clive Cowdery, said: “We see a growing need to support the life industry in mature Asian markets as primary insurers adapt to how to serve their policyholders best under new regulatory regimes, new accounting standards, and continuing low interest rates. We see this as a core region for Resolution Life over the long term.”
The formation of the Representative Office is the first step in Resolution Life’s plan to establish itself in Asia, with ambitions to grow its portfolio by supporting the primary life insurance industry.
According to a statement, Resolution Life provides solutions to life insurers, allowing them to free up the capital, cost and time devoted to legacy, non-core portfolios, via both acquisitions and reinsurance.
The New Markets team establishing Resolution Life’s presence in Singapore include Kirstin Rankin, Asia COO and Chief Representative, who relocated to Singapore from London where she was Group General Counsel and Yan Sun, who has joined as Head of Solutions for the region. Rushabh Ranavat is leading Resolution’s overall expansion into the region as Managing Director, Asia.
The announcement of the Representative Office follows a successful second half of 2021 in which Resolution Life announced three transactions, with Allianz Suisse Life in Europe, and Allianz Life and Lincoln Financial Group in North America.
Resolution Life is a global life insurance group focusing on the acquisition and management of portfolios of life insurance policies.
-- BERNAMA
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