New CEO takes reins at Legal & General Re

Legal & General Re (L&G Re) has named a new chief executive officer (CEO) replacing Thomas Olunloyo, who is moving to the US to take up a new role.

Olunloyo, L&G Re’s CEO since 2017, has been appointed as the new deputy CEO and executive vice president of Legal & General America (LGA).

Amy Ellison will take up the role of CEO at L&G Re. She has more than 20 years of financial-services industry experience, having held a number of senior management roles in the L&G Group since joining the company in November 2016. She was most recently finance director for defined contribution (including workplace savings) and retail for L&G Investment Management (LGIM), a role she held for two-and-a-half years.

Before that she was the head of audit for four of L&G’s businesses. She has also served as director on the L&G UCITS ETF board and as chair of LGIM’s asset pricing and valuations committee.

Ellison also served the UK government’s Department for Business, Energy and Industrial Strategy (BEIS) as senior policy lead in the independent review of the financial reporting council over an eight month period in 2018.

Before joining L&G she spent more than 15 years at PwC in the UK and Australia, where she was responsible for the delivery of audits and assurance services to global listed insurance and asset management clients.

Ellison said: “I am very excited to be joining L&G Re as it continues to establish its important place within the Legal & General Group. Reinsurance is a significant part of how we enable our clients to manage their risks and to meet their obligations to customers. I look forward to building on the formidable foundations Thomas and the talented team in Bermuda have built and to leading the company into its next stage of growth.”

Olunloyo said it had been a privilege to build L&G Re from a start-up into a $30 billion business and predicted further success under its new leadership. His new role at LGA “will allow me to reach new customers, deliver new solutions and further my personal mission of using insurance to make an impact on the lives of our customers,” he added.

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