Sagicor Life Names New President-CEO

Sagicor Life Insurance Co. has named Todd Campbell as president and chief executive officer.

Campbell will provide strategic leadership and direction to the Sagicor U.S. operations, the company said in a statement. He will report to the chairman of U.S. operations, Dodridge Miller, who is also president and CEO of Sagicor Financial Group.

Campbell succeeds Ken Marshall, who headed the Sagicor U.S. operations for the past three years, Sagicor spokeswoman Anabel Thomas said in an e-mail. Marshall had been with the Sagicor Group for more than 40 years. Thomas said Marshall has retired as CEO but will continue to serve on the Sagicor U.S. board.

Campbell had served as nonexecutive director of Sagicor's U.S. operations for the past two years, the company said. He is the former CEO of an Atlanta-based property/casualty company, Gramercy Insurance Co., and a legal partner in the law firm of Arnall, Golden, Gregory LLP. He also serves on the board of directors at his alma mater, the Appalachian State University's Brantley Risk and Insurance Center.

Sagicor is licensed in 44 states and the District of Columbia. It is a wholly owned subsidiary of Sagicor Financial Corp., which operates in 22 countries.

Sagicor's growth strategy historically consisted of acquisitions, reinsurance transactions, and organic annuity growth, according to BestLink, which provides online access to A.M. Best's Global Insurance & Banking Database. While the company continues to look for strategic acquisition and reinsurance transactions, it has turned its attention to developing organic strength in recent years.

Sagicor Financial's first-quarter net income fell to $12.5 million from $17.8 million the same period in 2009. Results were affected by $7.5 million in losses from the Chile earthquake. The losses were incurred by its Sagicor at Lloyd's operation.

Sagicor Life Insurance Co. currently has a Best's Financial Strength Rating of A- (Excellent).

(By Rick Cornejo, managing editor, BestWeek: [email protected])