Prosperity Life Insurance Group has named Nicholas von Moltke as its new CEO, effective 1 July 2019.
He will replace Anurag Chandra, who has resigned from his position after five-year tenure.
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From 2004-13, von Moltke was a managing director of Goldman Sachs Reinsurance Group, the predecessor of Global Atlantic.
He served as president and chief operating officer of Global Atlantic from 2013 to 2018. von Moltke part of the team that has grown the business to over $50bn in assets and approximately 1,000 employees.
He held various senior management positions in insurance and reinsurance prior to joining Goldman Sachs.
Prosperity chairman and portfolio manager at Elliott Mark Cicirelli said: “On behalf of the Board and investor group, I want to thank Anurag for his leadership over the past five years in transforming Prosperity and positioning it for long-term growth and financial strength.
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By GlobalData“We have the utmost confidence in Nick’s ability to lead the business and build on Prosperity’s strong foundation.”
von Moltke said: “I am honored and excited by the opportunity to help lead the next phase of Prosperity’s development, with Elliott’s strong capital support.
“I have long admired Elliott’s record in building high-quality, successful insurance businesses. I look forward to working with the Prosperity Board of Directors and management team to establish Prosperity as a leading participant in the life and annuity industry.”
Chandra said: “It has been a highlight of my career to lead this successful strategic, financial and digital turnaround and transformation of Prosperity culminating in the recently completed acquisition of the Company by funds managed by Elliott Management Corporation (“Elliott”).
“The Company is well positioned to continue, under Elliott’s direction, to build a business that serves policyholders well and creates value for shareholders. “
