Veteran Division Leader Passes Securian Torch to New Head of Group Life Unit

Jan 04, 2010, 12:00 ET from Securian Financial Group

ST. PAUL, Minn., Jan. 4 /PRNewswire/ -- Only one person had worked at Securian Financial Group longer than Jim Johnson when he announced his retirement last month as executive vice president and leader of the company's highly successful group life insurance unit. A 45-year veteran of the local insurer, Johnson will remain until May 31, 2010 to help ensure a smooth transition to new leadership.

Succeeding Johnson as division head is Von Peterson, who also was promoted from vice president to senior vice president. Peterson joined the company in 1996 as a sales manager and moved to the group division in 1998. Most recently, he has been responsible for client relationships, including 12 service offices around the country and a highly successful sales team with eight nationwide locations. Peterson has a bachelor's degree from Concordia College-Moorhead, Moorhead, MN and an MBA from the University of St. Thomas. St. Paul, MN. He resides in the Twin Cities.

Under Johnson and Peterson's leadership, the group life unit, which operates as Minnesota Life, has grown rapidly. In 1991, Minnesota Life was the sixteenth largest group life insurer in the US with $66 billion of life insurance in force; in 2008 it was the fourth largest, with $620 billion in force. Since 1999, Minnesota Life group insurance revenue has grown at a compound annual rate exceeding 15% and currently stands at $1.25 billion. Key to these successes is the unit's unique service culture as demonstrated with the highest customer retention in the group life market. Additionally, a recent survey shows 98% of Minnesota Life clients said they would recommend Minnesota Life to other employers.

Since 1880, Securian Financial Group and its affiliates have provided financial security for individuals and businesses in the form of insurance, investments and retirement plans. Now one of the nation's largest financial services providers, it is the holding company parent of a group of companies that include Minnesota Life Insurance Company.

SOURCE Securian Financial Group