Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
Urbana, MD, June 27, 2014 – On June 23, 2014, Troy Thompson, FSA joined Legal & General America as vice president, product management. In his new role, Thompson will have responsibility for product development and in-force product management.
Thompson's career is remarkably correlated to LGA’s business needs today. Thompson was most recently vice president of USAA, in San Antonio, Texas, where he was first the strategic leader of life and investment company operations and then a leader in an enterprise transformation initiative. This initiative aided the shift from a product-line-centric organizational underpinning to a shared distribution multi-product solutions orientation.
At Genworth Financial, Thompson served as senior VP of fixed life products, universal life products and term life products. There, he also led the development of term and UL portfolio efforts, resulting in over $200 million in annual sales, $300 million in after-tax income, and annual growth rates as high as 70 percent. In doing so, Thompson also artfully managed capital with structures that funded non-economic AG38 and XXX reserves, including the industry's first securitization.
Thompson's an actuary's actuary, but also a trusted companion and collaborator. He has a long and demonstrated history of working closely with distribution and marketing. Thompson said "this is the business I'm passionate about and I'm thrilled to be part of the LGA team."
A mathematics graduate with honors from The University of Texas, Thompson is a Fellow in the Society of Actuaries. He and his family will be relocating to Maryland this summer.
Legal & General America life insurance products are issued by Banner Life Insurance Company, Urbana, MD and William Penn Life Insurance Company of New York, Garden City, NY. Banner is licensed to do business in 49 states and District of Columbia. William Penn does business exclusively in New York; Banner does not solicit business there.
Pat Saether, Director, Creative Services
Legal & General America