Brookfield Annuity announces new Chief Executive Officer

BROOKFIELD ANNUITY COMPANY, Dec. 5, 2023 – Brookfield Annuity Company (BAC) announced today the appointment of Janice Madon as the company’s President and Chief Executive Officer (CEO), effective December 1, 2023. Ms. Madon follows Thomas Olunloyo, who continues to lead the expansion of the pension risk transfer business at Brookfield Reinsurance Ltd.

Ms. Madon brings over 25 years’ experience working in global financial institutions, most recently as BAC’s President and Chief Operating Officer (COO), and prior to that, Chief Financial Officer (CFO). Before joining BAC, Ms. Madon drove growth and profitability for leading Canadian companies, including RBC, where she held increasingly senior roles for close to a decade. Following this, Ms. Madon spent 12 years at Manulife Financial in executive positions, including Executive Vice President and CFO, Manulife Canada, Global Chief Auditor and Global Chief Accountant. Ms. Madon was Senior Advisor at Brookfield Asset Management immediately prior to joining BAC.

Paul Forestell, Chair of the Board of Directors of BAC and Managing Partner at Brookfield Reinsurance Ltd. said, “We are delighted to see Janice embrace this new leadership role. With her deep financial knowledge, extensive career experience, and the hands-on operational experience she gained at BAC, Janice is uniquely positioned to execute the company’s strategy. We have every confidence in Janice’s ability to lead the company’s management team as it enters the new year and beyond.”

Ms. Madon said, “I’m delighted to be leading the company as the pension risk transfer market continues to grow and evolve in Canada. As we close out our seventh year of operations, we’re thrilled to be a trusted partner and insurer to so many consultants, policyholders and annuitants.”

Ms. Madon is a Chartered Accountant and recognized as an FCPA, FCA, the highest distinction granted in the CPA profession. Ms. Madon also spent several years with one of the world’s largest accounting and professional services firms.

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 capital solutions business providing insurance and reinsurance services to individuals and institutions. Through its operating subsidiaries, Brookfield Reinsurance Ltd. offers a broad range of insurance products and services, including life insurance and annuities, and personal and commercial property and casualty insurance.

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