Here’s a rundown on the changes of keenest interest to insurance advisors...
TORONTO, May 8, 2012 /PRNewswire/ - International life insurance provider
Foresters™ has announced key senior executive changes in response to
the strong sales growth and acquisitions of the past few years.
Announcing the following changes, Foresters President and CEO George
Mohacsi said, "Strengthening our leadership team means we will continue
to build on our success as a leading provider of competitive life
insurance and investment products. This allows us to deliver on our
purpose of investing in unique member benefits, charitable initiatives
and community-building activities. For Foresters, true success will
always be measured by both our financial strength and the degree to
which we support everyday families and the communities they live in."
Christopher Pinkerton, formerly President, Foresters US, will focus
exclusively on his role as President and Chief Executive Officer for
First Investors, a diversified US financial services organization.
Christopher initially assumed responsibility for First Investors when
it was acquired by Foresters in 2011 and has developed a sound
strategic direction for future growth and profitability. Christopher
joined Foresters in 2005 following more than 20 years in a variety of
executive positions in the financial services industry.
Tony Poole has been appointed President, Foresters US Branch. He was
previously President, Foresters Canada, a position he held since 2008
when Unity Life of Canada (now Foresters Life Insurance Company) became
a wholly owned subsidiary of Foresters. In his new role, Tony, who has
more than 30 years financial services industry experience in a variety
of senior executive, sales, marketing and general management roles,
will work to build on Foresters financial strength, ensuring long-term
profitability and effective capital utilization.
Sharon Giffen has been named President, Foresters Canada and President
and Chief Executive Officer, Foresters Life Insurance Company. Sharon
was most recently Foresters Chief Financial Officer. Sharon joined
Foresters in 2000 and has over 30 years life insurance industry
experience. She has held a variety of senior management positions and
has focused throughout her career on the development and marketing of
life insurance products in Canada and the US. Sharon's new mandate
includes advancing the organization's product and distribution strategy
to fuel future growth.
Foresters™ is a life insurance provider with a difference. The
fraternal benefit society, founded in 1874, supports family well-being
through quality products, unique member benefits and inspiring
community activities. Foresters shares its financial strength with
almost 950,000 members in Canada, the United States and the United
Kingdom. Foresters has assets of over $8.6 billion with liabilities of
$7.1 billion resulting in a surplus of $1.4 billion (all figures in
Canadian dollars as of December 31, 2011) and maintains an "A"
(Excellent) rating by A.M. Best1. For more information visit foresters.com.
Foresters™ the trade name and a trademark of The Independent Order of
Foresters, a fraternal benefit society, 789 Don Mills Road, Toronto,
Canada M3C 1T9; its subsidiaries are licensed to use this mark.
1 An "A" (Excellent) rating is assigned to companies that have a strong
ability to meet their ongoing obligations to policyholders and have, on
balance, excellent balance sheet strength, operating performance and
business profile when compared to the standards established by A.M.
Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+being
superior ratings and A and A- being excellent ratings. In assigning
Foresters rating on May 26, 2011, A.M. Best stated that the rating
outlook is "stable", which means it is unlikely to change in the near
future. See ambest.com for our latest rating.