Resolution Life announced Monday the establishment of its Representative Office in Singapore, naming key appointments to spearhead its expansion into Asian markets.
At the helm of this expansion is Rushabh Ranavat, managing director of Resolution Life Asia. He is joined by Yan Sun, head of solutions, and Kirstin Rankin, Asia COO and chief representative, who previously served as the company’s group general counsel.
“Our global experience, regional strategic relationships and aligned business model provide a strong foundation for our Asian business. We look forward to building on this foundation in a manner tailored to the region, through partnerships with insurers, regulators and policyholders,” said Nardeep Sangha, CEO of Resolution Life New Markets.
The announcement of the Representative Office comes after the company’s acquisition of AIA’s superannuation & investments business in early 2022, as well as a series of successful transactions with Europe’s Allianz Suisse Life and North America’s Allianz Life and Lincoln Financial Group during the last half of 2021.
Since its foundation in 2003, Resolution Life and its related brands have pioneered the consolidation of life insurance assets, allowing insurers to free up capital and non-core portfolios via acquisitions and reinsurance. The new Singapore office is seen as a crucial step in growing the Resolution Life portfolio in Asia.
“Resolution Life was launched to be a global solutions provider. 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,” said founder and executive chairman Clive Cowdery.
