CARMEL, Ind., June 2, 2020 /PRNewswire/ -- CNO Financial Group, Inc. (NYSE: CNO) today announced the appointment of Chief Actuary Karen DeToro as its chief risk officer (CRO), effective June 15, 2020. DeToro will continue to serve as chief actuary in addition to her appointment as chief risk officer.
In this expanded role, DeToro assumes responsibility for risk management strategy for CNO and its insurance businesses from Tim Bischof, who is leaving CNO as of June 12, 2020, to pursue another opportunity. She will lead practices related to risk governance as well as advise on embedded and emerging risks and will continue reporting directly to Chief Executive Officer Gary C. Bhojwani.
"Karen is a strong leader within CNO's management team who already has been closely involved with our enterprise risk management function," said Bhojwani. "She has made significant contributions to our actuarial and product management strategy as chief actuary. CNO will continue to draw on Karen's deep background in risk management and 25 years of insurance industry experience as chief risk officer."
"We thank Tim for his many contributions during his 18 years with the company," said Bhojwani. "Tim helped strengthen CNO's corporate actuarial and risk management foundation and, as a result, CNO is well-positioned for the future. We wish Tim continued success in the next chapter of his career."
DeToro joined CNO Financial Group as chief actuary in September 2019. She held executive leadership positions at New York Life from 2013 to 2019. From 2006 to 2013, she was with Deloitte Consulting, where she led its Insurance Enterprise Risk Management (ERM) and Actuarial Transformation initiatives. For more information, visit CNO online at CNOinc.com.