Brookfield Asset Management Inc.’s insurance arm has hired a prominent former regulator to help the firm grow its U.S. life-insurance business through acquisitions and other transactions.
Michael McRaith has taken the post of vice chairman of Brookfield Asset Management Reinsurance Partners Ltd. , the firm said. He previously served as the first director of the U.S. Treasury Department’s Federal Insurance Office following more than six years as Illinois’s top insurance regulator. Mr. McRaith most recently had been a managing director at Blackstone Group Inc., where he worked in its insurance business.