Best's Review



Executive Changes
New CEO at Prudential Plc North America

Also: MetLife names successor to CEO Kandarian, MMC’s Mercer has new CEO and a new commissioner is named in Michigan.
  • March 2019
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Michael Falcon

Michael Falcon

Michael Falcon has begun his role as chairman and chief executive officer of Prudential plc's North America business unit following the retirement of Barry Stowe.

Falcon began in his new post on Jan. 1 and takes over the same titles Stowe had with Jackson Holdings, Prudential plc's North America unit, said Patrick Rich, a spokesman for Jackson.

Under Stowe's leadership “our Asian business grew to become the market-leading operation it is today, and more recently he has positioned our U.S. businesses for continued success in serving the needs of American retirees,” Mike Wells, group CEO of Prudential plc, said in a statement.

“The demand among Americans for a secure income in retirement is a huge social need and an attractive long-term business opportunity for the group,” said Wells. He added Falcon's expertise and record “mean that he is well-placed to lead the next phase of our development in North America.”

Falcon has nearly two decades of senior experience in the savings and retirement industry, said Prudential. He was CEO of JP Morgan Asset Management's retirement businesses in the United States and led the firm's asset management businesses in Asia.

He had also been head of Merrill Lynch's retirement group, with responsibility for several businesses serving individual and employer retirement plans.

Prudential said Falcon will divide his time between Nashville, Tennessee, and Lansing, Michigan.

—David Pilla

Sonja Rottiers

Sonja Rottiers

Lloyd's Names CEO, Underwriting Head for Brussels Office

Lloyd's has appointed Sonja Rottiers as chief executive officer of Lloyd's Brussels.

Rottiers will also be Lloyd's regional director for Europe, Middle East and Africa, and was to take up her position in February.

Delphine Marchessaux also joins Lloyd's Brussels as chief underwriting officer.

Lloyd's Brussels will have 50 staff in Brussels and 45 in 19 branches across Europe, said Lloyd's. Rottiers has more than 30 years of experience in Belgium's financial services industry, including senior leadership positions in insurance and banking. Most recently, she was a non-executive board member with ING Belgium and member of the board of directors for Kinepolis NV Group and Leasinvest Real Estate. Previously, she was chief finance and data officer and executive member of the board of directors of Axa Belgium.

Marchessaux joins Lloyd's from Axa Corporate Solutions in France, where she was head of underwriting cargo, Lloyd's said.

Lloyd's Brussels also announced two additions to its board of directors. Michel Flamée was appointed chairman and Christian Noyer joined as nonexecutive director.

Flamée was a board member of National Bank of Belgium and chairman of the Belgian Centre for Arbitration and Mediation. Noyer has been honorary governor of the Bank of France since 2015 following a 10-year period as governor. He is also a member of the French Fiscal Council and an adviser to the French government on issues related to Brexit.

John Worth

John Worth

Hastings Names Chief Financial Officer

John Worth will be named chief financial officer of Hastings Group Holdings plc following the retirement of Richard Hoskins.

Worth, currently CFO of MS Amlin, is expected to join the Hastings board within the next few months.

Worth joined MS Amlin as interim CFO in November 2017 and was appointed to the permanent position in July 2018. Over the past five years, Worth was with Co-operative Bank plc and Hiscox plc.

Hoskins has been with Hastings since April 2015.

Martine Ferland

Martine Ferland

Marsh &McLennan Appoints CEO at Consulting Affiliate Mercer

Marsh &McLennan Cos. has appointed Martine Ferland as chief executive officer of global consulting affiliate Mercer, effective March 1. She will retain her position as group president.

Current CEO Julio Portalatin will become an MMC vice chairman, which has been an open position. Portalatin led Mercer for seven years.

Ferland joined Mercer in 2011 as retirement business leader for Europe and the Pacific region. She served as president for the two areas and as global health co-president before taking on responsibilities as Mercer's president. She also will become a member of the company's executive committee.

Keith Schlosser

Keith Schlosser

Govind Balu

Govind Balu

Axis Capital Names Chief Information Officer and Chief Analytics Officer

Axis Capital Holdings Ltd. has hired Keith Schlosser as chief information officer and Govind Balu has joined as chief analytics officer.

Schlosser will lead the company's global information technology strategy. He has 30 years of insurance industry experience with roles in information technology, business solutions, marketing and sales. Before joining Axis, he spent seven years as chief information officer for Chubb's overseas general insurance division.

As chief analytics officer, Balu is responsible for leading data and analytics initiatives worldwide, and will also lead the company's Analytics Center of Excellence.

Balu has more than 25 years of experience in data analytics, data strategy, business intelligence and data management. He most recently was chief data and analytics officer for Allstate Roadside Services. Before joining Allstate Roadside Services, Balu worked at both Walgreens Corp. and Bank of America, where he held senior data analytics roles, Axis said.

Michel Khalaf

Michel Khalaf

MetLife Names Michel Khalaf Successor as CEO Kandarian Retires

MetLife Inc. said it has appointed Michel Khalaf as president and chief executive officer, succeeding Steven Kandarian, who is retiring, effective May 1.

Khalaf became president of Europe, Middle East and Africa, for MetLife in 2011 and, in 2017, also assumed responsibility for U.S. operations, MetLife said in a statement. In the United States, Khalaf oversaw group benefits, retirement and income solutions and property/casualty business since 2017.

Kandarian, who became CEO in 2011, joined MetLife in 2005 as chief investment officer. MetLife said he helped the company emerge from the 2008 financial crisis with the strength to acquire American Life Insurance Co. from American International Group in 2010 for $16.4 billion.

The deal brought Khalaf, who had served Alico for 21 years in leadership positions around the world, to the company.

Independent lead director Glenn Hubbard will become nonexecutive chairman upon Kandarian's retirement.

American Family Fills New CEO Position at The General With Former Ironshore Exec

American Family Insurance Mutual Holding Co. has appointed Tony DeSantis to a newly created position as president and chief executive officer of nonstandard automobile subsidiary The General.

Previously, DeSantis was CEO of syndicated risk services for Ironshore.

He will lead the company with Steve Tjugum, who was appointed chief operating officer when The General in October became a subsidiary as part of the mutual's merger with Main Street America Group.

Tjugum started at American Family in 1988 as a sales agent and most recently was agency strategy and support vice president. He succeeded John Hollar, who has left the company.

Earlier DeSantis was president and CEO at 21st Century Insurance and president of personal lines at Farmers Insurance.

American Family also appointed Elicia Azali as marketing senior vice president at The General. Previously she was vice president of property/casualty channel marketing at Nationwide.

Anita Fox

Anita Fox

Michigan Governor Appoints Commissioner

Anita Fox has been named the director of the Michigan Department of Insurance and Financial Services, replacing former DIFS Director Patrick McPharlin, who served in the position for three years.

Fox, an insurance law expert, was appointed by Gov. Gretchen Whitmer, a Democrat. McPharlin was appointed by former Gov. Rick Snyder, a Republican, and served from 2015 to Dec. 31, 2018.

Fox has more than three decades of legal experience and has taught insurance law at Michigan State University College of Law.

Sally Lake

Sally Lake

Beazley Names Group Finance Director

Beazley plc said it appointed Sally Lake as its next group finance director, to be effective when Martin Bride steps down from the post in May.

Bride is expected to resign from the Beazley board at the end of its planned meeting on May 23.

Lake joined Beazley in 2006 and has been the group actuary since 2014. Prior to her appointment as group actuary, Lake held several senior roles within the organization.

Beazley also said after two three-year terms, Angela Crawford-Ingle, nonexecutive director and chairwoman of the audit and risk committee, will step down from the board “at the conclusion of the 2018 accounting year and when the hand-over to her successor is complete.”

John Charman

John Charman

Sompo Names Overseas CEO

Sompo Holdings Ltd. has appointed John Charman as chief executive officer of overseas insurance.

Nigel Frudd succeeds Charman as Sompo International CEO.

Charman's promotion takes effect April 1. He will remain Sompo International executive chairman and join a new Sompo Holdings global executive committee forming in April to guide groupwide strategy.

Charman was CEO of Endurance Specialty Holdings Ltd. when Sompo acquired the insurer and reinsurer early in 2017. He became chairman and CEO of the then newly formed, Bermuda-based property/casualty insurer and reinsurer Sompo International.

Frudd will also join the global executive committee and assume the new role of Sompo Holdings senior executive vice president and chairman of overseas mergers and acquisitions.

Recai Dalas, CEO and director of Sompo Japan Sigorta for the Turkish market, will become retail CEO and Sompo International retail executive committee chairman.

Ai Lin Khoo

Ai Lin Khoo

Malaysia's Tune Protect Appoints New CEO

Malaysia's Tune Protect Group has appointed Ai Lin Khoo as the group chief executive officer. She succeeds former CEO Razman Hafidz Abu Zarim.

Khoo joined Tune Protect in August 2017 as CEO of the group subsidiary Tune Insurance Malaysia Bhd. She will continue to be the company CEO while heading the group.

Before joining the group, Khoo was chief marketing officer of Prudential Assurance Malaysia from 2016 to 2017. She has more than 20 years of experience in Malaysia's insurance industry, including working as general manager for bancassurance at Hong Leong Assurance and vice president at American Home Assurance.

Michael Kerner

Michael Kerner

Munich Re Appoints CEO of New North American Commercial Insurance Unit

Munich Reinsurance America Inc. has appointed Michael Kerner as chief executive officer for Munich Re Specialty Insurance, its new commercial insurance unit in North America.

Kerner brings more than 30 years of experience in the global insurance or reinsurance market, most recently as Everest Re executive vice president of risk management and strategy. He served in a variety of senior executive positions during 23 years at Zurich Insurance, including CEO of general insurance, CEO of global corporate North America and global North America chief underwriting officer.

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