Jon Steffen has joined Bermudian-based Aspida Life Re Ltd as president.

Aspida Re, a subsidiary of Aspida Holdings Ltd, was launched last December following the acquisition of F & G Reinsurance Ltd by Aspida, which is backed by alternative investment manager Ares Management Corporation.

The company said it provides solutions to insurance partners that are looking to optimise their balance sheets and best position their businesses for future growth.

Aspida Re said Mr Steffen has a decade of Bermuda life reinsurance experience.

He will be focused on leading Aspida's reinsurance company, including enhancing Aspida Re's capital and risk management solutions offerings to its various clients, the company said.

Prior to joining Aspida Re, Mr Steffen most recently served as the approved actuary for Athene Life Re Ltd from January 2015 to June of this year.

He also held prior leadership positions at ACE Group (now known as Chubb Limited).

Lou Hensley, chief executive officer and president of Aspida, said: “We are very pleased to add a professional of Jon's calibre to the Aspida Re team and further enhance Aspida Re's ability to meet its client's needs.

“Jon’s extensive actuarial background combined with a demonstrated record of delivering customised reinsurance solutions is expected to help propel Aspida Re forward as it seeks to scale its platform and strengthen its offerings to existing and new reinsurance clients.”

Mr Steffen said: “I am excited to join Aspida Re, which I believe is well-positioned as a differentiated insurance solution provider that helps clients meet their capital needs while managing risk.

“In addition to its strong leadership team, Aspida Re benefits from the support of Ares and the experience of Ares Insurance Solutions' team. With this solid foundation, I look forward to working with the team as we continue to deliver for our clients and position the company for the long-term.”