Financial Services for Enhanced Insurance Operations

By Insurance CIO Outlook | Monday, February 04, 2019

The financial services industry is one of the sectors that are most affected by the digital disruption, and many importanti developments in insurance trends  were observed in 2018. The global financial leader Protective Life Corporation provides financial services through the production, distribution, and administration of insurance and investment products throughout the United States The flagship subsidiary, Protective Life Insurance Company, was established in 1907. They have been a value-driven company throughout our more than 100 years of history. The home office of Protective is located in Birmingham, Alabama. As of December 31st, 2017, the company had approximately $79.6 billion in assets. Protective Life Corporation is Dai-ichi Life Holdings, Inc.’s wholly owned subsidiary.

Protective Life Corporation has recently announced the appointment of Mark McVeigh as Senior Vice President of Life Insurance Sales. Furthermore, he will be a member of the management team of Protective Life & Annuity and will be responsible for the life insurance distribution of the company, including brokerage, affinity, direct banking and exclusive agent distribution channels. McVeigh will report Matt Riebel, Senior Vice President, and Chief Sales Officer Protective.

 “We are thrilled to have Mark step into this role and greatly value the experience and talent he brings to the team,” said Riebel.

Since May 2018, McVeigh has been working with Protective to complete the acquisition of the Liberty Life Assurance Company of Boston (Liberty Life), a subsidiary of the Lincoln National Life Insurance Company purchased from affiliates of Liberty Mutual Group Inc., through reinsurance of the individual life and annuity business. Since then, he has been the leader of the acquired distribution channels of Protective, seamlessly implementing the transition business plan while maintaining the top market share position for the life insurance sales of the banking channel.

With almost 30 years of experience in financial services, McVeigh brings a long and successful record to his new role, most recently as Senior Vice President, Sales, and Marketing at Liberty Life. Before his tenure with Liberty Life for ten years, he served as Vice President and Marketing Director for Aviva Life Insurance and Director of Marketing for GE Capital–GNA. McVeigh received his MBA from the University of Seattle and graduated from the University of Notre Dame in Finance. As a leading financial company, Protective looks forward to having Mark’s contribution to the company’s success in the future.

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