Venerable Appoints Alexandra Findleton Head of Flow Reinsurance to Boost Growth

Venerable has appointed Alexandra Findleton as Head of Flow Reinsurance, reflecting the company's commitment to expanding its capabilities in variable annuity flow reinsurance. This appointment follows Venerable's strategic agreement with Corebridge Financial, which included reinsurance of $51 billion in variable annuity business from American General Life Insurance Company and The US Life Insurance Company of New York, as well as the acquisition of Corebridge’s investment advisor, SunAmerica Asset Management. Findleton's expanded role involves leading flow reinsurance transaction development, managing relationships with counterparties, and overseeing terms with cedents, enhancing the firm's framework for ownership, accountability, and governance in this business segment. Ms. Findleton brings substantial experience from her prior role at Oliver Wyman and her tenure at Venerable since 2019, where she developed insurance liability models and technology solutions supporting annuity sales and policy administration. Her leadership is positioned to drive Venerable's growth strategy aggressively in the flow reinsurance market. Venerable, headquartered in Pennsylvania with operations in Iowa and New York, specializes in managing legacy variable annuity business acquired from other entities. The company is backed by significant investors including Apollo Global Management, Crestview Partners, Reverence Capital Partners, and Athene Holdings, enabling a patient, long-term capital approach to building the business. This advancement in Venerable's organizational structure and strategy underscores the increasing importance of flow reinsurance in managing variable annuity portfolios and aligning risk and capital management with new business developments. The flow reinsurance market itself is a growing area as insurers seek efficient ways to manage liabilities and optimize financial performance amid changing market dynamics. The leadership adjustment is a key part of Venerable’s broader strategy to scale its presence in the annuity reinsurance space, a sector notable for its capital intensity and regulatory complexity. Enhanced governance and transaction oversight led by Findleton will facilitate more streamlined partnerships and improved pricing executions. Industry stakeholders can observe Venerable's moves as reflective of broader trends in life insurance and annuity markets, where reinsurance arrangements play pivotal roles in portfolio management and risk transfer. The combination of strategic acquisitions and leadership appointments highlights an active approach to retaining competitiveness and adapting to evolving regulatory and market conditions.