Securian Financial Announces Chief Financial Officer Transition

Business Wire

Pete Berlute to assume CFO role upon Warren Zaccaro’s retirement

ST. PAUL, Minn.--(BUSINESS WIRE)--
Securian Financial announced today that Warren Zaccaro, executive vice president and chief financial officer (CFO), will retire on July 1, 2025, after 20 years of dedicated service to the company.

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Warren Zaccaro, retiring as Securian Financial CFO on July 1, 2025 (Photo: Business Wire)

To ensure a seamless transition, Pete Berlute, previously senior vice president of Affinity Solutions, was named senior vice president of Finance, effective January 1, 2025, reporting to Zaccaro. Berlute will succeed Zaccaro as CFO on June 1, 2025, reporting to Chris Hilger, Securian Financial chairman, president and CEO.

Zaccaro’s leadership has been instrumental in driving Securian Financial’s strength and growth over the past two decades.

“Warren has been an invaluable partner to me and a top leader in the company during a period of tremendous change, challenge and opportunity,” said Hilger. “Under his stewardship, we have achieved consistent growth and maintained outstanding financial strength ratings from all four independent insurance ratings agencies. Beyond his expertise and contributions, Warren’s integrity, wise counsel and positive outlook have left an indelible mark on our company. I wish him all the best in his very well-earned retirement.”

As CFO, Berlute will be responsible for establishing, implementing and maintaining the financial plans and policies of Securian Financial—setting fiscal controls, preparing and interpreting financial reports, and safeguarding the company’s assets.

“Pete’s extensive financial, operational and business unit leadership experience makes him exceptionally qualified to step into this critical role,” said Hilger. “I am confident in his ability to build on Warren’s legacy and help drive Securian’s continued success.”

Berlute has excelled in various leadership roles with Securian Financial since joining the company in 2006. Most recently, as senior vice president of Affinity Solutions, he led a group of businesses that sell insurance and related products through financial institutions and member associations in the U.S. and Canada—helping the businesses cross $1 billion in total revenue for the first time in 2023. He will continue to provide executive oversight for the company’s Securian Canada business.

Previously, Berlute served as senior vice president and head of Enterprise Technology, and as CFO for the company’s former retail wealth business. He was promoted to second vice president in 2012, vice president in 2017 and senior vice president in 2022.

Before joining Securian Financial, Berlute was a Certified Public Accountant (CPA) for Ernst & Young in Chicago and Minneapolis. He holds a bachelor’s degree in accounting and finance from Miami University (Ohio).

Dave Seidel has been promoted to senior vice president of Affinity Solutions, succeeding Berlute. Seidel assumes responsibility for leading the U.S. Affinity Solutions business, and reports to Hilger.

“Dave has been a key player in the maturation and growth of Affinity Solutions over the past many years. I am thrilled to expand his leadership role as a new member of our executive leadership team,” said Hilger.

ABOUT SECURIAN FINANCIAL

To be confident in your financial future, you need to trust the strength and commitment of the companies you choose to work with. For more than 140 years, the Securian Financial family of companies has been developing innovative insurance and retirement solutions to meet the evolving needs of individuals, families and businesses. Offered through partnerships with employers, financial professionals and affinity groups, our products help bring peace of mind to more than 23 million customers throughout the United States and Canada. We are trusted by our partners and customers to fulfill our purpose of helping to build secure tomorrows. For more information about Securian Financial, visit securian.com or follow us on Facebook, Instagram or LinkedIn.

For more information about the rating agencies and to see where our ratings rank compared to other ratings, please see our website at securian.com/ratings.

Insurance products are issued by Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer. Minnesota Life is not an authorized New York insurer and does not do insurance business in New York. Both companies are headquartered in St. Paul, MN. Product availability and features may vary by state. Each insurer is solely responsible for the financial obligations under the policies or contracts it issues. Variable products are distributed by Securian Financial Services, Inc., member FINRA. 400 Robert Street North, St. Paul, MN 55101-2098.

Securian Financial is the marketing name for Securian Financial Group, Inc., and its subsidiaries.

DOFU 1-2025

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