People Moves: Liberty Mutual, TigerRisk, and Howden
Diversified US insurer Liberty Mutual has reshuffled four of its executives. Effective from 1 July, their new positions will be:
- Tim Sweeney, President. Sweeney is a long-term Liberty executive of almost 30 years.
- Neeti Bhalla Johnson, President of Global Risk Solutions. Prior to this appointment, Johnson served as Chief Investment Officer. She first came to Liberty in 2013 following a 13-year stint as Managing Director of Goldman Sachs.
- James MacPhee, President of Global Retail Markets. MacPhee’s new role was previously held by Sweeney. He has been with Liberty for over 17 collective years.
- Vlad Barbalat, Chief Investment Officer. The newest joiner to the company with a service history of four years, Barbalat was also Managing Director of Goldman Sachs’ securities division between 2003 and 2012.
“These new executive leadership appointments better position us now and in the future as a leading global insurer and will help us capitalise on opportunities across our businesses,” commented Liberty’s CEO David Long.
Focusing on providing risk, capital, and strategic advice to the insurance/reinsurance sectors, TigerRisk is positioning itself as a new global leader. James Loggie’s appointment as a new Partner to the firm is presumably part of this drive.
Loggie himself is highly experienced in the insurance industry, having previously worked at AIG, Guy Carpenter, and Willis Re. At the latter, which he remained with for over a decade, Loggie was an Executive Director and Senior Director of Credit Surety and Political Risk.
“We are delighted to bring an industry leader of James’s standing into the team,” said Rod Fox, CEO.
Liberty Mutual wasn’t the only firm to make several new high-profile appointments: London-based broker Howden confirmed three new executives for its Australian offices, all of which would be transitioning from rival firm Marsh:
- Matt Bacon, CEO of Howden Insurance Brokers. In addition to formerly serving as CEO of Mercer Marsh Benefits in APAC, he was also Account Director at Aviva and CEO of People Risk Consulting at JLT Australia for eight years.
- Stuart McKellar, Head of Commercial and Affinity. McKellar served as Chief Commercial Officer at Marsh prior to joining Howden. He also worked at JLT Australia for 15 years, latterly as Managing Director.
- Nick Chubb, Head of Financial Lines. Chubb spent a collective 12 years at Marsh before making the transition to Howden. Like both Bacon and McKellar, he worked at JLT Australia, albeit for the longest period (16 years) as General Manager.
The relatively parallel and long-term experience of all three speaks to Howden’s desire to establish a firmer presence in the Australian insurance market. As it continues to grow, the firm’s ability to lure top talent away from a major competitor like Marsh could be indicative of its potential
SIMON Insurance expands its annuities platform
The New York-based insurance and annuities services company, SIMON, has announced the launch of its expanded annuities service via its new digital platform, called LiveWell.
The valuable annuity service is issued by the Midland National Life Insurance Company and administered by Sammons Retirement Solutions - a division of Institutional Group, as the first-to-market. More carriers are cited to join SIMON’s variable annuity marketplace over the next few months.
The move means financial professionals can now find and explore Sammons’ LiveWell Variable Annuity solutions, access product-specific marketing literature, and run powerful allocation and income analytics within the product—all directly within SIMON’s interactive platform.
Tax-deferred growth for the retired
According to reports, variable annuities are favoured by savings markets because they can help accumulate assets for retirement with tax-deferred growth. They also offer agile and flexible tax-free reallocations as well as optional death benefits for heirs.
Frequently used as part of a long-term retirement planning strategy for tax-efficient growth, VAs are now available in SIMON’s Marketplace alongside fixed indexed annuities, fixed annuities, and structured annuities.
The SIMON annuities platform also provides financial professionals with centralised access to the tools and resources they need to analyse marketplace products based on their clients’ risk profiles and investment horizons.
The platform also allows investors to:
- Explore various rider illustrations
- Leverage powerful allocation analytics
- View fund options and their performance statistics
- Dive deep into the historical performance of allocations and funds
Speaking about the launch of LiveWell, Melissa Scheuerman, VP of Business and Sales Development at Sammons, explained, “Everyone seeks custom solutions today—from news feeds on our cell phones to grocery delivery services, and retirement planning is no different. Products need to offer flexibility, and professionals need intuitive tools at their fingertips to analyse and manage products that offer that flexibility.
“Our partnership with SIMON illustrates a commitment to offering scalable annuity solutions to professionals serving a growing population of retirees.”
Scott Beshany, Chief Distribution Officer at SIMON, added, “With game-changing analytics for this product class, variable annuities are a natural new addition to SIMON’s product lineup. Our Marketplace is now able to deliver a more holistic product experience, and we look forward to driving a better, more powerful VA product experience for financial professionals.”