Prudential publicizes president succession

Prudential Monetary has introduced that Mike Estep, head of product for group insurance coverage, will succeed Yanela Frias as president of its group insurance coverage enterprise.

As well as, Frias will turn out to be the CFO of Prudential.

Estep as president of group insurance coverage will report back to Caroline Feeney, head of Prudential’s US companies.

Since becoming a member of the agency as head of product for group insurance coverage in 2022, Estep has led all features of product technique. This contains the event of a strategic roadmap for the agency’s present and future product portfolio with a concentrate on buyer relevancy and sustainable, worthwhile development.

Jess Gillespie will succeed Estep as head of product for group insurance coverage.

“Mike’s management has been instrumental in growing a long-term imaginative and prescient for our product technique and driving enterprise development.” mentioned Feeney. “His distinctive monitor document and client-first strategy will guarantee our continued progress in positioning Group Insurance coverage as a frontrunner in delivering complete monetary options to our shoppers.”

In 2023, Prudential Monetary and non-public fairness firm Warburg have launched Pincus Prismic Life Reinsurance, a Bermuda-based life and annuity reinsurance firm.

The brand new licensed reinsurance firm has acquired a mixed preliminary fairness funding of $1bn from Prudential, Warburg and a gaggle of traders.

It will likely be led by Prudential’s worldwide reinsurance enterprise founding chief Amy Kessler.

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