NEW YORK, NY, Dec. 8, 2015 /PRNewswire/ - At its annual meeting, the Life Insurance Council of New York, Inc., (LICONY), elected Carol Springsteen to serve on its Board of Directors for a three-year term. Ms. Springsteen is President of Foresters Life Insurance and Annuity Company (formerly First Investors Life).
"This election is a great honor," said Carol Springsteen, who has more than 26 years of experience in the life insurance industry and, under her leadership, is credited with expanding the product offerings of Foresters Life Insurance and Annuity Company and enhancing its national footprint. "I look forward to working with the Board of Directors on the life insurance issues and challenges that will face our industry in 2016 and beyond."
"We are very proud of Carol Springsteen on her appointment to the LICONY Board of Directors," said Bill Lipkus, President and CEO of Foresters Financial Services, Inc. "Carol's deep expertise of the insurance industry will be an invaluable asset to the Board - as it continues to be for our firm."
LICONY is the domestic trade association representing the life insurance industry in New York. Its member companies provide the vast majority of life, disability income, long-term care insurance and annuity benefits for New York state residents. In 2015, LICONY's membership included 73 life insurance companies and 23 allied professional firms.
Prior to joining Foresters Life Insurance and Annuity Company, Ms. Springsteen served in senior executive positions at New York Life Insurance Company. Ms. Springsteen earned an MBA degree from Columbia University, a BA degree in Mathematics from Hope College, and holds the CLU (Chartered Life Underwriter)® and ChFC (Chartered Financial Consultant)® designations from the American College.
About Foresters Financial (formerly First Investors)
The Foresters Financial (formerly First Investors) group of companies is a diversified financial services company and includes a registered broker-dealer, an investment adviser, a life insurance company and a transfer agent. Foresters Financial Services, Inc., a broker-dealer, helps everyday families reach their financial goals by offering solutions and guidance through its network of financial representatives working in 42 branch offices across the United States. Foresters Investment Management Company, Inc. is the investment adviser to the First Investors family of funds, which had nearly $11 billion in total assets under management as of June 30, 2015. Foresters Life Insurance and Annuity Company, Inc., a New York domiciled insurance company, offers a range of insurance and annuity products and maintains an "A" (Excellent) rating by A.M. Best1. forestersfinancial.com
Foresters is an international financial services provider with more than three million clients and members in the United States, Canada and the United Kingdom. We provide life insurance, savings, retirement and investment solutions that help families achieve their financial goals and make a lasting difference in their lives and communities. Foresters has assets of almost $12 billion, total funds under management of $28 billion and a surplus of $1.9 billion (all figures in Canadian dollars as of December 31, 2014) and maintains an "A" (Excellent) rating by A.M. Best1. foresters.com
Foresters Financial™ and Foresters™ are the trade names and trademarks of The Independent Order of Foresters, a fraternal benefit society, and its subsidiaries, including Foresters Financial Services, Inc. Securities, life insurance and annuity products are offered through Foresters Financial Services, Inc. Insurance products are issued by Foresters Life Insurance and Annuity Company or The Independent Order of Foresters.
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 The Independent Order of Foresters and Foresters Life Insurance and Annuity Company rating on July 1, 2015, 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.