Gerova Financial Group has appointed Lou Hensley as president and CEO of Gerova Holdings, and head of the Gerova Insurance Group. In this role, he will be responsible for global operations of Gerova’s insurance subsidiaries, as well as designing and implementing strategies for growth of insurance group.

Previously, Mr Hensley served as senior vice president with Wells Fargo, and an executive officer of Wells Fargo’s Bermuda-based reinsurance subsidiary, Union Hamilton Reinsurance. He joined Wells Fargo and Union Hamilton as a result of Wachovia/Wells Fargo’s acquisition of Pivot where he was co-founder and president.

Mr Hensley has also served as vice president of corporate development for Jackson National Life, a $87bn subsidiary of Prudential, where he was responsible for development and execution of the company’s merger and acquisition business plan in North America. He also held positions at Swiss Re affiliate, The Midland Life Insurance Company, and Conseco.

Marshall Manley, chairman and CEO of Gerova, said: “We are delighted to announce Lou’s appointment. His leadership capabilities, previous M&A experience and extensive knowledge of the insurance and reinsurance industries position him well to lead Gerova’s insurance initiatives.”