INS - Venerable Welcomes Key Finance and Risk Leaders

PR Newswire

WEST CHESTER, Pa. , June 16, 2021 /PRNewswire/ -- Venerable is pleased to welcome two newly appointed leaders to the company's Finance and Risk organizations.

Wei Kiat Teo , Vice President and Head of Capital Management based in West Chester, PA , joins Venerable from Prudential Financial, having served in several actuarial roles and most recently on a Corporate Development team focused on mergers and acquisitions, both domestic and internationally. Teo will be responsible for overseeing the determination of the value of investor's equity into Venerable parent company, development of corporate model projection forecasts, analyzing and strategizing capital deployment, evaluating strategic initiatives, and monitoring experience and assumption setting for select policyholder behavior assumptions.

Teo has extensive experience in modeling and assumptions and previously supported the variable annuity business that Venerable acquired as a result of the transaction with Voya Financial, Inc. that closed in 2018. He is a graduate with a first-class honor in Actuarial Science from the University of Kent at Canterbury, UK .

Dave Wiland , EVP and Chief Financial Officer noted "We are thrilled to welcome Wei Kiat to our organization and look forward to the impact that he will have on our Capital Management team and company. His extensive experience and prior knowledge of our block of business will directly support Venerable's growth strategy and position us well for future transactions."

Gil Chua has been appointed as Head of Risk Management Strategy for Venerable Holdings, Inc. and will partner with several teams across Venerable's operating company to align the company's risk management approach by developing investment portfolio objectives, optimizing portfolios and the liability hedge program, and supporting liquidity management activities.

Chua joins Venerable from Goldman Sachs where he was a Vice President and Portfolio Manager within the Multi-Asset Class team and previously held roles in interest rate products quantitative strategy and interest rate products trading. He is a graduate of the University of Pennsylvania , graduating summa cum laude with a B.S. in Economics with concentrations in Finance and Accounting, and a B.A.S. in Systems Engineering with a minor in Mathematics. Chua will be based in West Chester, PA.

"Gil is a skilled professional and we are thrilled to have him join Venerable during a time where our team remains focused on supporting an aggressive growth strategy.", said Charles Schwartz , Chief Risk Officer for Venerable Holdings, Inc. "His experience in the risk management space will benefit several teams within our operating company and positively impact decision making within our executive team and investor group."

About Venerable

Venerable is a privately held company with business operations based in West Chester, Pennsylvania and Des Moines, Iowa . Venerable owns and manages legacy variable annuity business acquired from other entities. Created by an investor group led by affiliates of Apollo Global Management, LLC, Crestview Partners, Reverence Capital Partners, and Athene Holdings, Ltd., Venerable is a business with well-established, strategic investors, experienced in successfully building and growing insurance businesses with patient, long-term capital. For more information, please visit www.venerable.com .

CONTACT:

Allison Proud
Corporate Communications
610-249-9730

SOURCE Venerable