Brookfield Annuity announces new Chief Executive Officer

BROOKFIELD ANNUITY COMPANY, Dec. 13, 2021 – Brookfield Annuity Company (BAC) announced today the appointment of Thomas Olunloyo as the company’s President and Chief Executive Officer (CEO). Mr. Olunloyo follows Paul Forestell, who becomes Chair of Brookfield Annuity’s Board and Chief Operating Officer at BAC's parent company, Brookfield Reinsurance Ltd. (Brookfield Reinsurance).

Mr. Olunloyo has over 15 years of experience in the insurance sector, both as an actuary and an executive, including as CEO, Legal & General (L&G) Reinsurance and Deputy CEO, L&G America. While at L&G Reinsurance, he led the company’s entry into new markets, including Canada.

Mr. Forestell said, “We are delighted to welcome Thomas to Brookfield Annuity. He is a proven leader with a deep understanding of the potential of the annuity market in Canada, for organizations and individuals, as well as a keen understanding of how technology is going to create new opportunities for the company.”

Mr. Olunloyo said, "I am delighted to be joining the Brookfield Annuity team. Pension risk transfer is my passion because of the necessary long-term financial security it provides to retirees. This leads to greater certainty in an increasingly uncertain world. My mission Is to expand the reach of our business to cover many more retirees In Canada."

Mr. Olunloyo is a Fellow of the UK Institute and Faculty of Actuaries and holds a Master’s degree in Mathematics and Philosophy from the University of Oxford.

About Brookfield Annuity

Brookfield Annuity Company is the only Canadian life insurance company that is primarily focused on providing group annuity solutions to Defined Benefit pension plans. We are wholly owned by Brookfield Reinsurance Ltd., a leading reinsurance business focused on providing capital-based solutions to insurance companies and their stakeholders.

Brookfield Annuity is licensed in Canada and regulated by the federal Office of the Superintendent of Financial Institutions.