James C. Miller, former CEO and president of S&T Bank (NASDAQ: STBA) and chairman of the S&T Bancorp board of directors since 2004, is stepping down as board chairman. Charles G. Urtin, will replace Miller.
Christine J. Toretti, a member of the board of directors, replaced Urtin as vice chairman of the board.
The leadership changes took effect at S&T Bancorp’s board of directors meeting on May 20. Miller will remain as a member of the board of directors.
Miller, S&T Bank’s CEO from 1998 to 2008, began serving as chairman of the board in 2004. He retired from active employment in 2008 after 25 years with S&T Bank. He joined S&T Bank in 1983 when the bank acquired the former UniBank of Brookville, Pa.
Urtin joined the S&T Bancorp board as vice chairman in 2008 following S&T’s acquisition of Irwin Bank and IBT Bancorp Inc. He spent 24 years at Irwin Bank and was appointed as its chief executive officer in 1999.
Toretti has been a member of the board of directors since 1984. She was named president of Palladio, LLC in 2011. Prior to that, she was the chairman and CEO of S.W. Jack Drilling for 20 years.
Alan Papernick retired from the board of directors, effective May 20. He served on the bank’s board for 16 years.
In other industry news:
Unum shareholders voted to re-elect four directors for terms expiring in 2016:
- E. Michael Caulfield, former president of Mercer Human Resource Consulting;
- Ronald E. Goldsberry, automotive industry consultant;
- Kevin T. Kabat, vice chairman and chief executive officer of Fifth Third Bancorp; and
- Michael J. Passarella, former audit partner of PricewaterhouseCoopers LLP.
Shareholders also voted in favor of an amended and restated certificate of incorporation to declassify Unum’s board of directors, approved the compensation of the company’s named executive officers, approved the annual incentive plan, and ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm.
In other company news, Unum paid more than $6 billion in benefits in 2012. The company also repurchased $500 million of its stock in 2012 and increased its dividend by 24 percent. Since 2007, the company has repurchased $2.2 billion in stock and increased its dividend by 73 percent.
Symetra Life Insurance Company named John Valickus vice president of Individual Life Underwriting. Valickus joins Symetra following a 19-year career at Lincoln Financial Group, where he most recently served as divisional chief underwriter.
He is a graduate of Villanova University, a Fellow of the Life Management Institute (FLMI), a Fellow of the Academy of Life Underwriting (FALU), and a Chartered Life Underwriter (CLU).
He will be based in Symetra’s Waltham, Mass., office.
Colonial Life & Accident Insurance Company named Mat Matarrese vice president of sales for the Southeast region.
In his new role, Matarrese is responsible for building sales teams to market Colonial Life’s products, programs and services in Tennessee, South Carolina, North Carolina, Georgia, Alabama and Florida.
Matarrese joined Colonial Life in 2009 as a sales manager for the Illinois/Wisconsin territory. He tripled sales in the district in a two-year period, increased the number of new sales representatives more than twofold last year and qualified three times for an elite sales club that recognizes the company’s strongest performers. He has more than eight years of experience in the insurance industry and is a graduate of the University of Wisconsin-LaCrosse.
Forethought Financial Group Inc. added Laser App’s SmartForm functionality, which helps to prevent producers from advancing in the application process until carrier required fields have been completed. Forethought also made e-Signing available to its producers, further enabling straight-through processing. Approximately 110,000 producers and staff will have access to Forethought’s forms through Laser App.
The Western and Southern Life Insurance Company’s Women’s Information Network (W!N) website received the 2013 Silver Award of Distinction in seven categories from the International Academy of the Visual Arts.
For the 2013 Communicator Awards, more than 6,000 entries were judged to evaluate excellence and distinction in creative work against a standard based on the 19-year history of the awards.
Based on research identifying areas of importance to women, the W!N website provides content about money matters, health and wellness and life stages. The seven categories for which the website was recognized are the following:
- Corporate communications
- Corporate identity
- Financial services
- Public Relations
UNIQA Group, a life and nonlife insurer in Austria and the Central European markets, signed a multiyear license for Conning’s GEMS Economic Scenario Generator.
GEMS is an economic scenario generator that simulates future states of the global economy and financial markets using leading edge economic models, providing full market risk and asset class coverage.
GEMS is used by insurers for applications such as Solvency II, economic capital modeling, market consistent embedded value calculations, stochastic liability and capital valuation, asset portfolio optimization and derivative and hedging strategies.