MIB Membership Elects New Chairman, Vice Chairman and Three New Directors to its Board
BRAINTREE, Mass., April 26, 2011 /PRNewswire/ -- MIB Group, Inc., the life and health insurance industry's most trusted resource for underwriting information and analytical services, is pleased to announce the election of its Chairman and Vice-Chairman of the Board for 2011-12 and the election of three new directors, all of whom are senior officers of longstanding MIB member companies and highly experienced insurance industry veterans.
Effective May 6th, Edward J. Bonach, FSA, CERA, MAAA, Executive Vice President and Chief Financial Officer of CNO Financial Group, Inc. (NYSE: CNO) will succeed Susan D. Waring, CLU, ChFC, as Chairman of the Board, and Timothy A. Walsh, President and CEO of Farm Family Life Insurance will serve as Vice-Chairman. Ms. Waring, the past Executive Vice President, Chief Administrative Officer of State Farm Life Insurance Company will remain on the MIB Board as Immediate Past Chair.
Joining MIB's Board will be Thomas F. English, Senior Vice President and Chief Insurance Counsel of New York Life Insurance Company, Joseph L. Pray, CLU, ChFC, President and Chief Operating Officer of The Trustmark Companies and David P. Wheeler, FALU, FLMI, Senior Vice President and Global Chief Underwriting Officer for RGA Reinsurance Company (NYSE: RGA).
"We are honored to have these accomplished industry leaders join our Board," said Lee B. Oliphant, President and CEO of MIB Group, Inc. "Each of our new directors brings a wealth of expertise and unique perspectives from industry segments that well represent MIB's membership."
"I would like to thank Susan Waring for her leadership, insight and the initiatives she championed in her tenure as Chair," continued Oliphant. "We are a stronger organization today thanks to her leadership—she will continue to be an asset to MIB in her new role on the Board."
MIB is a membership corporation with a Board comprised of 12 volunteer directors elected from its 450 North American member insurance companies.
Mr. Bonach joined the MIB Board in 2006 and is Executive Vice President and Chief Financial Officer of CNO Financial Group, Inc. Bonach joined CNO from National Group Life, where he served as Executive Vice President and Chief Financial Officer. Prior to joining National Life in 2002, he was with Allianz Life for 23 years, where his positions included President – Reinsurance Division and Chief Financial Officer.
Mr. Walsh joined the MIB Board in 2010 and is President and Chief Executive Officer of Farm Family Life Insurance Company and its affiliates, Farm Family Casualty Insurance Company and United Farm Family Insurance Company. Walsh joined Farm Family in 1995, and has previously served as Executive Vice President, Chief Financial Officer and Treasurer. He is currently a member of the Board of Directors of the Farm Family Insurance Companies, American National Property and Casualty Holdings, Inc., American National Property and Casualty Company and American National Life Insurance Company of New York. Walsh is also a Past Chairman of the Life Insurance Council of New York Board of Directors, serving as a member of LICONY's Board since 2008.
Mr. English, Senior Vice President and Chief Insurance Counsel of NY Life Insurance Company, brings nearly 30 years' industry experience to the MIB Board. In his current role, he oversees legal matters for New York Life's agency, life, annuity and long-term care units as well as those concerning NYLIFE Securities, Inc. He recently completed a term as a member of the Board of Governors of the Association of Life Insurance Counsel (ALIC) and serves as Chair of the Insurance Section of the ALIC. New York Life joined MIB in 1908 and was one of MIB's original founding companies.
Mr. Pray, President and Chief Operating Officer of The Trustmark Companies, is a seasoned industry veteran with more than 30 years' experience. Pray joined Trustmark in 2002 as Vice President of Sales, Voluntary Benefit Solutions, and was promoted to Senior Vice President in 2007 prior to his appointment as President and Chief Operating Officer in 2010.
Mr. Wheeler, Senior Vice President and Global Chief Underwriting Officer for RGA Reinsurance Company, worked in the insurance industry for more than three decades. Wheeler manages more than 100,000 U.S. facultative underwriting cases annually and all of the medical, underwriting and support professionals who support this business. He is also responsible for underwriting risk management and mortality results, and leads underwriting's input regarding pricing, marketing and claims.
MIB is the life and health insurance industry's most trusted resource for underwriting information and analytical services. Owned by the industry it has served for more than a century, MIB is uniquely positioned to deliver insights so that its members can more effectively assess risk and enhance profitability. MIB, Inc. and MIB Solutions, Inc. are wholly-owned subsidiaries of the MIB Group, Inc. (www.mib.com and www.mibsolutions.com).
David O. Aronson
MIB Group, Inc.
SOURCE MIB Group, Inc.