Acenda Group Formally Established

The Acenda Group has been formally established following Nippon Life’s completion of its acquisition of Resolution Life Group.

The transaction combines three life insurance businesses – the former MLC Life Insurance business (now Acenda Life), Resolution Life Australasia, and Asteron Life New Zealand – creating one of the largest life insurers operating across Australia and New Zealand.

Acenda Group CEO Chris de Bruin said the integration of the businesses will take place over time, with no changes to existing customer policies or claims processes.

“As a combined group we are a stronger, growth-focused business, with the scale and stability to meet the evolving needs of our customers,” said de Bruin.

“We are focused on delivering on our promises to customers during the transition with no change to customer policies or their ability to make a claim.”

Nippon Life President Satoshi Asahi said the acquisition reinforced the company’s long-term commitment to the Australasian market and its ambition to expand globally.

Acenda announced its leadership team last month, naming de Bruin as Group CEO. The team is listed below (see Acenda Group Leadership Team Named):

• Sean McCormack – Group Chief Commercial Officer, overseeing product and distribution, and supporting the Group’s planned expansion into longevity and retirement solutions
• Andrew Beevors – Group Claims and Innovation Officer, responsible for the Group’s Claims function and driving innovation in claims and customer care
• Lisa Hayes – Group General Counsel, responsible for leading the Group’s Legal and Corporate Services functions
• Peter Histon – Group Chief Information Officer, leading the Group’s infrastructure transformation, modernisation, and data initiatives
• John Lucey – Group Chief Investment Officer, leading the Group’s investment strategy and management of investment portfolios
• Grant Willis – remains CEO of Asteron Life in New Zealand. Grant will join the Acenda Group Leadership Team and report to the Asteron Life Board
• Jane Murray – continues as Chief Operating Officer for Acenda Life
• Yvonne Le Bas – Group Chief Financial Officer (previously announced)
• Karen Malzard – Group Chief Risk Officer (previously announced)
• Nupur Bhushan has been appointed Interim Group Chief People Officer to support the business through its initial phase of integration, while a search is ongoing for this role. Nupur is an experienced People and Commercial leader and brings experience leading through transformations, including roles at WiseTech and ResMed