Talcott Financial Group, the Bermudian-based international life insurance group, has appointed Imran Siddiqui as chief executive officer.

The organisation said Mr Siddiqui is a proven industry executive with extensive experience leading and growing life insurance and annuity companies, as well as other financial services businesses, and he has played a key role in strengthening Talcott’s capabilities as a scaled partner to the insurance sector.

Since Sixth Street’s acquisition in 2021, Talcott has completed six transactions with leading life insurance and annuity providers, reinsuring more than $50 billion of assets through block and flow reinsurance.

Michael Muscolino, cofounder and partner at Sixth Street, said: “The board’s decision reflects our strong conviction that Imran is the right person to lead Talcott as it continues to be a responsible steward of capital for policyholders and reliable solutions provider for companies across the life insurance and annuity sector.

“Imran has already been leading Talcott for the past year and a half as interim president, and he brings decades of experience in the industry, having formed and grown well-respected financial services companies.

“We are confident that he, in collaboration with executive chairman Mike Smith, will continue to steer Talcott on the path of further success.”

Mr Siddiqui said: “It has been a privilege to lead Talcott’s team of talented professionals, and I am honoured to be appointed chief executive officer.

“We are dedicated to providing lasting value to our policyholders while furthering our journey of growth, innovation and success. I look forward to partnering with Mike Smith in building upon Talcott’s robust foundation.”

Mr Smith said: “Imran’s leadership and deep experience in the insurance and financial services industry have already benefited Talcott through our business development activity.

“We will continue to execute on Talcott’s focused growth strategy and shape the life insurance and annuity industry as its premier risk partner.”

Prior to joining Talcott, Mr Siddiqui was an independent consultant for companies across the financial services sector.

He was previously a senior partner at Apollo Global Management and held roles at Oak Hill Capital Partners and Goldman Sachs.

Talcott Financial Group has offices based in Bermuda, Connecticut and New York, and its platforms include Talcott Resolution and Talcott Re.