Acenda (formerly MLC Life Insurance) and Resolution Life Australasia have named the CEO and Independent Non-Executive Directors of the Acenda Group.
The appointments follow Nippon Life’s announcement in December last year to acquire Resolution Life for USD$8.2bn and merge it with Acenda – a firm owned by Nippon Life. See: Resolution Life Bought by Nippon Life.
On completion of the transaction, which is subject to regulatory approvals, the combined entity – Acenda Group – will be one of the largest life insurance businesses in Australia and New Zealand. Completion is expected by the year-end.
Named to lead the group is Chris de Bruin. He has more than 25 years’ global executive experience in financial services, including business banking, retail banking, fintech, and digital banking. Most recently, he served as Chief Executive of Consumer & Business Banking at Westpac until September 2023.
Independent Non-Executive Directors are named as:
Catherine Dubé – an actuary with over 30 years experience in financial services
David Stephen – a banking and Financial Services leader with over 35 years’ experience
Melissa Babbage – a Non-Executive Director of Resolution Life and Swiss Re Asia
Rosheen Garnon – a Non-Executive Director with current roles in Financial Services, Infrastructure and Transport, and Government
Dubé and Stephen are current Independent Non-Executive Directors of the MLC Limited Board.
The appointments will take effect on completion of the transaction, along with the appointment of Craig Dunn as future Chair of the Acenda Group. See Future Chair Appointed.
Jacqueline Korhonen will continue as an Independent Director of the MLC board, which will become a subsidiary board of the group, post completion of the transaction.
Additionally, Rodney Cook will be appointed as Independent Non-Executive Director of Resolution Life Australasia Limited in October, which will also operate as a subsidiary board of the group from completion.
