Lumos Insurance, a wholly owned subsidiary of financial services holding company Hoplon Capital, has appointed Tom Kenny as managing director (MD) and senior vice president (SVP) of global retirement and protection as it builds its global reinsurance business.
In his new role, Kenny will also support Lumos’ growth in the aged market and retirement business in the UK, US and globally. His appointment reflects Hoplon Capital’s continued investment in building out its insurance platform and marks Lumos’ expansion into solutions for the retirement and seniors markets.
He has over twenty years of financial services experience in the UK, US and Australia, specializing in retirement income, social care (long-term care) solutions and actuarial product development.
Most recently, he was group property and credit risk director at UK retirement-focused insurer Just Group plc, where he led initiatives to implement UK solvency regulatory reforms, a new investment limits framework and a credit rating verification framework.
Kenny spent 14 years with Just Group in positions including pricing, product development, medical underwriting, mortgage underwriting and property management for medical underwriting and enhanced annuities and equity release (reverse) mortgages.
Earlier in his career, he built the bulk purchase annuity (pension risk transfer) pricing team at Partnership Assurance and has held roles at MetLife, Munich Re, Asteron Life and Willis Towers Watson.
Kenny is a well-known actuary within the UK retirement and care market and currently chairs the IFoA Social Care Working Group, which was recently recognized for its contribution to the public debate on social care (long-term care) policy.
Vince Bodnar, president of Lumos Insurance, commented on the appointment: “We have spent nearly 50 years building underwriting discipline in the credit protection space. The next step is to expand that into reinsurance and retirement solutions. Tom has built these capabilities before, and he knows how to implement them within the carrier platform.”
Robert Arsov, CEO and founder of Lumos parent company Hoplon Capital, added: “We are pleased to welcome Tom to Lumos Insurance and Hoplon. Tom’s experience and contributions are a perfect fit with our efforts to enhance our insurance products and global retirement and protection product footprint.”
“Lumos is building a carrier platform with the discipline to move quickly and the infrastructure to make new solutions work in practice,” said Kenny. “Lumos’ leadership team and Hoplon have understood the senior market and long-term care – a focus for decades. Meeting the growing demand for retirement and conservation solutions is the logical next step to support this expansion.”
