Foresters Makes Executive Changes In Response To Strong Growth
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. About Foresters 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. Best 1. 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. SOURCE Foresters
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