Brookfield has announced the appointment of Michael McRaith as vice chair of its Insurance Solutions business. In the newly created role, McRaith will participate in all aspects of Brookfield’s global insurance operations.
Brookfield’s Insurance Solutions business provides capital and investment solutions that match assets and liabilities for the benefit of policyholders and other stakeholders, the company said. Insurance Solutions partners with insurers to develop portfolios with high-quality investments that generate risk-adjusted returns for insurers, policyholders, beneficiaries and other stakeholders.
“We are pleased to welcome Michael as a key addition to our leadership team during a time of increasing growth for our business,” said Sachin Shah, CEO of Brookfield Reinsurance and head of the Insurance Solutions business. “He brings years of invaluable experience that will benefit our longstanding institutional insurance investors and support the development of new partnership and investment opportunities as we further grow our insurance platform.”
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Prior to joining Brookfield, McRaith served as a managing director for Blackstone. He also served for nearly six years as the first director of the Federal Insurance Office in the US Treasury Department. Before joining the Treasury, he served as the director of the Illinois Department of Insurance.