PEMBROKE, Bermuda--(BUSINESS WIRE)--Athora Holding Ltd. (“Athora” or “the Group”), a leading European retirement services group with €79 billion assets under administration, has today announced the appointment of Mike Wells as Group Chief Executive Officer, subject to regulatory approvals, and Michele Bareggi to the newly created role of President and Deputy CEO.
Mr Wells is a seasoned leader in global insurance having spent 26 years at Prudential plc, including seven years as CEO. As CEO, Mr Wells delivered meaningful shareholder value through executing two strategic demergers, accelerating the development of an Asian shareholder base through a successful equity issuance on the Hong Kong Stock Exchange and transitioning the company into an Asian and African focused life and health insurer.
Mr Bareggi has been at Athora since its formation in 2018 and has successfully led the group and its significant growth over the last 4 years.
“Athora has made significant progress since its creation in January 2018. The growth achieved in just over four years reflects the business’ strong foundations and ambition to become a leading provider of retirement products and solutions in Europe. With Mike and Michele and their combined skills and experience we have the ideal leadership team for this next stage of Athora’s development.” commented Nikolaus von Bomhard, Chairman of Athora Board of Directors.
“We’re delighted to welcome Mike to Athora. He is a seasoned insurance executive with a strong track record and a wealth of expertise that will benefit Athora as it continues to scale into a compelling market opportunity.” commented Scott Kleinman, Athora Board Director and Co-President of Apollo.
Mike Wells said, “This is a tremendously exciting time to be joining Athora. I believe there is real demand across Europe for their retirement services, and deep expertise in the long-term management of retirement benefits. I’m very impressed with what Michele and the team have achieved over the last 4 years and I look forward to getting started.”
Michele Bareggi said, “I’m delighted to welcome Mike to Athora and I look forward to working with him on the next stage of the Group’s development.”
Athora is a leading retirement services group fully focused on the European market. We concentrate on the large and attractive traditional life and pensions market, with an ambition to become a leading provider of guaranteed life and pensions products in Europe. We serve the needs of individual and corporate customers who continue to demand products offering safety of returns, and also provide innovative M&A and reinsurance solutions to other insurers seeking to enhance their capital position or enact strategic change. Athora's principal subsidiaries are Athora Netherlands N.V. (Amstelveen, Netherlands), Athora Belgium N.V./S.A. (Brussels), Athora Lebensversicherung AG (Wiesbaden, Germany), Athora Ireland plc (Dublin) and Athora Life Re Ltd. (Bermuda). The Athora Group employs some 1,900 staff and has 2.3 million customers with assets under administration of €79 billion (as at 31 December 2021). On 23 September 2021, Athora announced the acquisition of Italian insurer Amissima Vita S.p.A. The acquisition is expected to complete in 2022, subject to applicable regulatory clearances.