Unum Group today announced that Marylou Murphy, currently senior vice president and chief actuary for Unum, will become president of Closed Block Operations. She will succeed Steve Zabel in the role as he becomes executive vice president and chief financial officer on July 1.
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Marylou Murphy, president of Closed Block Operations for Unum Group (Photo: Business Wire)
“Marylou Murphy has been instrumental in completing reserve activities for the Closed Block and has established strong relationships with our insurance regulators, both of which will support continuity in executing on our strategy,” Zabel said. “Her extensive expertise and understanding of the unique complexities of the Closed Block make her well-suited to effectively manage this business.”
Scott Carter, currently vice president of Global Financial Planning and Analysis for Unum, will be promoted to senior vice president and chief actuary.
“At Unum, we are deeply committed to building talent and creating opportunities for our leaders to grow and develop,” Zabel said. “We have significant opportunities ahead and incredible talent to move us forward.”
In May, John F. “Jack” McGarry, executive vice president and chief financial officer, announced he will retire from the company effective October 31, 2019. Zabel will assume the role of executive vice president and chief financial officer effective July 1, at which time McGarry will move into a role supporting a smooth transition until his retirement.
ABOUT UNUM GROUP
Unum Group is a leading provider of financial protection benefits in the United States and the United Kingdom and the largest provider of disability income protection in the world. Its businesses are Unum US, Colonial Life, Unum UK, and Unum Poland. Unum’s portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs. The company reported revenues of $11.6 billion in 2018, and provided $7.2 billion in benefits.