Executive Changes
AIG Spins Off Life and Retirement Businesses, Names CEO

American International Group Inc. has announced a separation of its life and retirement businesses. At the same time, the company named a new chief executive officer.

“Over the last three years, we have taken significant action to de-risk AIG and position the company for profitable growth, including fortifying general insurance, diversifying life and retirement, significantly strengthening AIG's capital and liquidity position, and building a world-class team,” Chief Executive Officer Brian Duperreault said in a statement.

“This foundational work has positioned AIG to pursue a separation of life and retirement, enabling both companies to prosper as stand-alone entities,” he added.

The move was met with support from President and Global Chief Operating Officer Peter S. Zaffino, who was named CEO effective March 1. He will retain his position as president and has been appointed director, effective immediately. Duperreault will become executive chairman.

In a statement Zaffino said: The company's “businesses can be further strengthened by separating life and retirement from AIG, which we believe will enable each entity to achieve a more appropriate and sustainable valuation.”

AIG said its executive management team, with assistance from independent financial and legal advisers and oversight from the board of directors conducted a “comprehensive review” of the company's current composite structure, including strategic, operational, capital and tax implications.

—David Pilla

TIAA's President and CEO to Retire

TIAA President and Chief Executive Officer Roger W. Ferguson will retire on March 31, 2021, after 12 years with the company —all of them as president and CEO.

Ferguson joined TIAA in 2008, having previously served at Swiss Re as head of financial services and chairman of the company's America Holding Corp. Prior to Swiss Re, he was vice chairman of the board of governors of the U.S. Federal Reserve System, which he joined in 1997.

Ferguson steered TIAA through the global financial crisis of 2008-2009 and moved early at the onset of the COVID-19 pandemic to implement remote work for 17,000 global employees, the company said.

Chubb Names Country President for Vietnam

Chubb has named Khue Dinh president for its Vietnam general insurance business.

Dinh will oversee the operations and business development activities of Chubb's key business lines in Vietnam—property/casualty, as well as accident and health insurance.

Dinh has 20 years of experience in the insurance industry, having held various leadership positions with international insurers and brokers. Prior to joining Chubb, she was director of emerging customers with Axa Insurance and represented the company on the board of directors of Bao Minh Insurance.

Employers Holdings Names Successor to Longtime Chief Executive

Employers Holdings Inc. has named Katherine H. Antonello to succeed Douglas D. Dirks as president and chief executive officer.

Antonello will transition to her new role on April 1, at which point Dirks will retire after 27 years as CEO.

Antonello joined Employers in August 2019 as executive vice president and chief actuary of the company. Prior to that, she served as chief actuary for the National Council on Compensation Insurance from 2013-2019. Antonello has more than 25 years of workers' compensation insurance experience, having held leadership roles in actuarial, policy services, claims and internal audit functions.

CVS Health Names Successor to Retiring CEO

CVS Health has named Karen S. Lynch to succeed Larry J. Merlo as president and CEO. Lynch will also join the company's board of directors.

Lynch—currently executive vice president, CVS Health, and president, Aetna—will transition to her new role on Feb. 1. Merlo will retire after 40 years of service, more than 10 of which were as CEO, CVS said in a statement.

Lynch is responsible for developing diversified enterprise health care solutions that leverage all of CVS Health's assets. Prior to joining Aetna in 2012, she was president of Magellan Health Services, a diversified health services company, and held various senior executive positions at Cigna.

RLI Names Third Chief Executive Officer in Company's 55-Year History

RLI Corp. has named Craig W. Kliethermes, currently RLI Insurance Co. president and chief operating officer, to succeed Jonathan E. Michael as chief executive officer as of Jan 1.

Michael, who has been CEO since 2001, announced his decision to retire effective Dec. 31, 2021. He will remain chairman of the board after retiring as CEO.

Kliethermes, who was promoted to RLI Insurance Co. president and COO in 2016, will assume the role of RLI Corp. president and COO and be appointed to the board of directors, all effective Jan. 1. Previously, he served as senior vice president, risk services since 2013. Kliethermes joined RLI in 2006 and has 35 years of industry experience. Prior to joining RLI, he served in leadership roles with Lockton Cos., GE Insurance/Employers Reinsurance and John Deere Insurance Co.

Millers Mutual Names Successor to Retiring President and CEO

Millers Mutual Insurance named Jonah Mull president and chief executive officer, effective Jan. 1.

Mull, most recently executive vice president and chief operating officer, succeeds Scott Orndorff, who is retiring after 42 years in the industry. Orndorff will serve as vice chairman of the board and chief adviser to Mull through July 31.

Millers Mutual's board of directors also has appointed Vice President and Chief Financial Officer Jeffrey Pratt to the position of executive vice president and chief financial officer, effective Jan. 1.

Mull joined Millers in 2014 as an underwriting leader responsible for the growth, profit and development of the underwriting teams. In 2017 he was named vice president of operations. He was named executive vice president and chief operating officer in November 2019.

Tennessee Governor Names New Insurance Commissioner

Tennessee Gov. Bill Lee has named Carter Lawrence commissioner of the state Department of Commerce &Insurance.

Lawrence most recently was the department's chief deputy commissioner and chief operating officer. He assumed his new position immediately.

Lawrence also has served on Tennessee's Economic Recovery Group throughout the COVID-19 pandemic, assisting efforts to reboot the state's economy. He briefly served as interim commissioner in 2019, following the departure of Julie Mix.

Capital Insurance Group Names Successor to Retiring President-CEO

Capital Insurance Group named Andy Doll to succeed Arne Chatterton as president and chief executive officer as of Jan. 1.

Chatterton will retire after 30 years in the insurance industry. He joined CIG in March 2013 as vice president of field operations and business relations before being appointed president and CEO in 2014.

Doll most recently served as senior vice president and chief operating officer at CIG. He joined the company in 2014 as a chief actuary and was promoted to vice president and COO in March 2016. In November 2019, he was promoted to senior vice president.

Insurance Australia Group Changes Executive Team and Structure

Insurance Australia Group named Michelle McPherson as permanent group chief financial officer.

McPherson has been acting group CFO since joining IAG in April. She has more than 30 years of finance experience across multiple industries.

The Australia division is now split into Direct Insurance Australia and Intermediated Insurance Australia. As a result, IAG CEO Australia Mark Milliner has left the company, the company said.

While an internal and external search is underway, Amanda Whiting, currently IAG executive general manager, consumer distribution, will be acting group executive for Direct Insurance Australia. Whiting has more than 20 years' experience in the insurance industry in both general and health insurance, having held senior roles in these industries, as well as telecommunications. Prior to her appointment to the acting Direct Insurance role, she was executive general manager, consumer distribution, in IAG's Australia division.

Julie Batch will act as group executive, Intermediated Insurance Australia, in addition to her current responsibilities leading IAG's strategy and innovation division.

Vindati Names Chief Executive Officer

Vindati, an insurtech managing general underwriter, has named Tyler S. Van Spanje, one of Vindati's co-founders, to succeed Hugh Burgess as chief executive officer.

Van Spanje has served as chief underwriting and innovation officer since the company started. He is an underwriting professional with leadership, risk analysis and insurtech experience and has worked closely with Burgess to build the Vindati platform, according to a company statement.

Prior to launching Vindati, Van Spanje was regional president inland marine for International Marine Underwriters (OneBeacon Insurance Group). His career has also included six years at Allianz Global Corporate & Specialty, where he was assistant marine head/regional underwriting executive/assistant vice president, marine underwriting manager, and senior underwriter.

In addition, he has served as director of inland marine at Acadia Insurance Co. and senior marine underwriter/marine team leader at Fireman's Fund Insurance Co.

Scor Names Chief Business Transformation Officer for Scor Global P&C

Myriam Moufakkir has been named chief business transformation officer for Scor Global P&C.

In this new role, Moufakkir will be responsible for driving key operational aspects of the property/casualty business, with a focus on digital and data strategies, business process transformation, group projects and resource and budget management.

Moufakkir joins Scor from Axa, where she held several senior leadership roles—the latest being regional chief operating officer for Axa Asia in Hong Kong. She has more than 20 years' experience in the financial services industry and brings to Scor background in strategic alignment between business and technology, digital innovation and transformation, and strategies to accelerate growth and productivity, according to a company statement.