Foresters Financial Appoints Matt Berman as Chief Executive Officer

TORONTO, Jan. 12, 2024 /PRNewswire/ - Dan Fortin, Foresters Financial Chair of the Board, announced today the appointment of Matt Berman as President and Chief Executive Officer, effective immediately.

Mr. Berman was named President of Foresters Financial US and Canada in March 2023. Earlier, he served as President, Foresters Financial US and, prior to that, as Chief Distribution Officer and President of the insurer's former subsidiary, Foresters Life Insurance and Annuity Company (FLIAC).

Speaking on Mr. Berman's appointment, Mr. Fortin said, "On behalf of the Board of Directors, I'd like to congratulate Matt on this well-earned appointment. We have the utmost confidence in Matt's leadership – he has a deep understanding of our organization, values, and the ever-changing dynamics of our industry. Matt has accomplished a great deal during his tenure at Foresters; his contributions and guidance will continue to be invaluable to our future success. As Foresters celebrates its 150^th anniversary this year, Matt will usher in a new era of innovation in the solutions we provide to our members and the advisors who serve them.

The Board would also like to thank René Zanin for his contributions as Foresters Interim President and Chief Executive Officer. René is a key member of our executive team, and we commend him for seamlessly leading the organization during this transition period."

Mr. Zanin will assume his previous responsibilities leading Foresters Legal and Compliance teams, while assuming additional responsibilities overseeing Member Experience, Engagement, Governance and Development. His new title is Global Chief Legal, Compliance and Membership Officer.

"It is my distinct honor to be named Foresters Chief Executive Officer," said Mr. Berman. "I would like to thank the Board for their vote of confidence; I am truly humbled and grateful. It's incredibly rewarding to lead an organization that not only provides a pivotal service to families but also boasts such a rich culture, purpose and lasting impact within our communities. I am excited about our future as we continue to focus on exceptional experiences for our members and their advisors."

Mr. Berman has played a pivotal role advancing strategic initiatives in both the US and Canadian markets, spearheading the transformation of Foresters distribution channels, product portfolio, operations and underwriting. His notable achievements include new agent-intermediated and direct-to-consumer sales partnerships, diversifying the product portfolio and a relentless commitment to enhancing the digital customer journey. Mr. Berman also championed a culture of well-being by introducing first-in-market products and member benefits protecting individuals living with diabetes. Throughout his tenure, Mr. Berman has been essential in fortifying the Foresters brand, implementing internal controls and fostering a culture of innovation.

Mr. Berman joined Foresters Financial in February 2017 and has 30 years of experience leading strategic planning, distribution and product management in both the property and casualty and life and savings insurance sectors, most notably with AXA, AIG and Zurich Insurance.

Mr. Berman holds a Master of Business Administration from New York University, Stern School of Business and a Bachelor of Arts in English from the University of Pennsylvania.

About Foresters Financial

Financial security and living your purpose

Foresters Financial™ has helped people protect their family's financial future for 150 years. But we've also gone beyond that, giving our members opportunities to do more for their health, communities and the causes they care about most. Foresters is an intrinsically purpose-driven organization working to enrich family and community well-being. Alongside offering life insurance in the US and Canada and life insurance and savings solutions in the UK, Foresters partners with members to help them do more of the good they want to do.

We've been a dedicated group of community builders since 1874 and today, sustainability, environmental consciousness and social responsibility are central to delivering our purpose. That commitment has continually led us to provide meaningful lifelong benefits¹ to our members, like Foresters Care™ grants that bring communities together, Competitive Scholarships² to help create a brighter future for young leaders and others that support a world where more good happens. Together, we're making a difference while inspiring others and new generations to give back. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 23 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.³

¹ Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions, and limitations and may be changed or cancelled without notice or are no longer available.

² The Competitive Scholarship benefit is administered by International Scholarship and Tuition Services, Inc. (ISTS).

³ The A.M. Best rating assigned on August 17, 2023, reflects the overall strength and claims-paying ability of The Independent Order of Foresters (IOF) but does not apply to the performance of any non-IOF issued products. 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. See ambest.com for our latest rating.

Foresters Financial, Foresters, Helping Is Who We Are, Foresters Care, Foresters Moments, Foresters Renew, Foresters Go and the Foresters Go logo are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Road, Toronto, ON, Canada M3C 1T9) and its subsidiaries.

422857 CAN/US (01/24) 

SOURCE The Independent Order of Foresters