Liberty Mutual Insurance, Boston, Mass., appointed Brian Dunham as senior vice president and chief actuary of its Group Benefits operation.
Dunham will manage the actuarial function for the business unit that provides group disability and life insurance, and leave administration services, to middle market and national accounts through brokers and consultants.
Prior to joining Liberty Mutual, Dunham was responsible for the pricing and financial management of Unum’s large case group life and disability business. He is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
In other industry news:
Oxford Life Insurance Company, Phoenix, Ariz., introduced the Oxford Life Income Protector that combines the guaranteed interest of a multi-year guarantee annuity (MYGA) with the guaranteed lifetime payout of a guaranteed lifetime withdrawal benefit rider (GLWB), which is included at no additional charge.
The MYGA interest rate is guaranteed for five years and varies based on the deposit amount. Deposits from $25,000 to $250,000 are currently being credited an annual interest rate of 3.0% and deposits from $10,000 to $24,999 are currently being credited 2.5%. The Oxford Life Income Protector is available to clients ages 18 to 80, and offers hardship waivers for nursing home confinement and terminal illness.
The GLWB rider credits interest to an income account, used solely for the purpose of calculating the monthly income benefit, at a rate 5.0% greater than the base product. The current income account interest rate is 8.0%.
The Oxford Life Income Protector will cater to clients concerned with achieving guaranteed rates of return like those found in certificates of deposit, and those concerned with outliving their retirement savings.
Oak Street Funding, Indianapolis, Ind., hired Kelly Drouillard as director of strategic markets. In this new role, Drouillard will focus on building strategic partnerships to structure larger, more complex insurance loans.
Drouillard has more than 25 years of experience in finance, operations, commercial lending and strategic development in the insurance industry. Previously, she owned her own consulting and professional services company that specialized in structuring capital transactions in the insurance industry and consulted on hundreds of insurance agency acquisitions.
"Providing insurance agency funding is a niche service and there aren't a lot of professionals who know the business," commented Rick Dennen, CEO of Oak Street Funding. "Kelly is one of only a few people in the country who truly have expertise and grasp the intricacies of the insurance industry.”
Mutual of Omaha, Omaha, Neb., elected Mary Pat McCarthy, CPA, to its board of directors.
McCarthy joined KPMG LLP, the U.S. member firm of the global audit, tax and advisory services firm, in 1977 and was admitted to the partnership in 1987. She held numerous senior leadership positions including executive director of the KPMG Audit Committee Institute, leader of the KPMG Client Care Program. As vice chair, McCarthy also served on the firm’s Management and Operations Committees. She retired from KPMG at the close of 2011.
McCarthy earned her bachelor’s degree in business administration from Creighton University and is a graduate of the KPMG International Development Program at the University of Pennsylvania Wharton School of Business. She is a member of the American Institute of Certified Public Accountants as well as the Missouri Society and Kansas Society of Certified Public Accountants.
McCarthy is also the author of several books on risk, strategy and business transformation and is a frequent speaker on the topic of corporate governance.
Assurant Health, Milwaukee, Wis., medical, supplemental and fixed-benefit health plan provider for individuals, families and small employers was named one of Milwaukee’s Top Workplaces by the Milwaukee Journal Sentinel.
Awards were given to the top workplaces in several categories. Assurant Health was ranked No. 8 out of the 23 companies recognized in the large company category, which includes companies with 500 or more employees in southeast Wisconsin. Top Workplaces are selected solely upon responses to an employee survey, which was randomly distributed to a sampling of Assurant Health employees late last year.
“This is a very special honor for our company, but more than anything it’s a tribute to our employees,” said Assurant Health president and CEO Adam Lamnin. “This year marks our 120th year in business, and for most of these years we've called Milwaukee home. Throughout our history, we've always been proud to be a part of this community, and we’re especially proud of our employees who make Assurant Health a great place to work.”
Assurant Health previously has been recognized as a great place to work by Milwaukee Magazine and The Business Journal Serving Greater Milwaukee.
The Inland Marine Underwriters Association, New York, N.Y., inaugurated Peter Opinante, Swiss Re America, as chairman; Michelle Hoehn, The Travelers Group, as deputy chairperson; and William Rosa, XL Reinsurance, as vice chairman. Re-elected are Kevin O’Brien, president and CEO, and Lillian Colson, vice president and secretary
Additional elected members of the board of directors: Pat Carroll, Gen Re; Richard Pye, Zurich; Sharon Primerano, AGCS; Drew McCormack, Chartis; Bruce S. Jervis, ACE North America Property.