Steve Hales has been appointed CEO of Bermuda-domiciled reinsurer Resolution Re, part of the Resolution Life Group.

He joined the Resolution Life Group in 2017 as executive director of Europe, and before that he was group head of connected insurance at Assicurazioni Generali where he led the data science and “internet of things” development for the group. Mr Hales first moved to Assicurazioni Generali in 2013 to lead its newly-created global life business line.

Earlier in his career, the now Resolution Re CEO was head of the Axa life and savings business for Southern Europe, Latin America and MENA.

Clive Cowdery, executive chairman at Resolution Life, said: “Steve is well placed to build our reinsurance business given his previous experience in global life markets and his contribution to the launch of Resolution Life Group.”

Mr Hales said: “The life insurance industry is going through a deep transformation in a difficult macroeconomic environment. By providing a safe harbour for the sector’s existing policyholders, I believe that Resolution Re can genuinely help insurers through these challenging times. The next couple of years promise to be a lot of fun as we expand across different markets across the world.”

In September 2018, the reinsurer completed a $5.7 billion reinsurance transaction with Symetra Life Insurance Company.