Genworth’s McInerney Slated for Annual Meeting
Thomas J. McInerney, President and Chief Executive Officer of Genworth Financial, Inc., has agreed to speak at NOLHGA’s 2017 Annual Meeting, which will be held in Charleston, South Carolina, on October 18 and 19. An MPC meeting will be held on October 17.
Mr. McInerney has been President and Chief Executive Officer of Genworth Financial since January 2013. Before joining the company, he served as a Senior Advisor to the Boston Consulting Group and spent a number of years with ING Groep NV and Aetna. In addition to his roles with Genworth, Mr. McInerney is a member of the Board of the American Council of Life Insurers and the Financial Services Roundtable.
NOLHGA’s 34th Annual Meeting will take place on October 18–19 at the Belmond Charleston Place. Attendees can register for the meeting and make hotel reservations through the meeting website. The registration fee for the meeting is $650 for members and $775 for non-members. The seminar will be held in conjunction with an MPC meeting on October 17. There is no registration fee for the MPC meeting, but attendees must indicate on the registration form that they plan to attend the MPC meeting. More information about Annual Meeting speakers will be released in the next week or so.
NOLHGA has secured a room rate for this meeting of $319/night plus tax (single/double) at the Belmond Charleston Place. Reservations can be made through the meeting website. Please contact Holly Wilding at [email protected] if you have any questions about the Annual Meeting.
Staff Contact -MPC Meets in Chicago
The Members’ Participation Council (MPC) met in Chicago on July 19, 2017. The Booker T. Washington/Universal Life Insurance Companies (Alabama), Imerica Life & Health Insurance Company (Arkansas), and Lincoln Memorial/Memorial Service Life Insurance Companies (Texas) Task Forces held meetings, and the Penn Treaty Network America/American Network Insurance Companies (Pennsylvania) Task Force held a closed-session presentation. The MPC Executive Committee also met.
In addition to the task force reports below, the General Session featured an update on recent activities at the NAIC by Bill O’Sullivan (NOLHGA). MPC Chair Pamela Olsen took a moment to recognize several guaranty association administrators who are stepping down from their positions or taking new positions—Steve Durish (Ohio), Peter Leonard (California), and Ray Terfera (Massachusetts)—and to welcome new administrators Mike Surguine (moving from Arizona to Ohio); Todd Thakar (California); and Bill Fisher, who will take the reins of the Massachusetts association effective September 1. She also noted the passing of Doug Furlong, longtime Executive Director of the New Jersey guaranty association. In addition, NOLHGA President Peter Gallanis provided the President’s Report, and Ms. Olsen briefed attendees on MPC Executive Committee activity.
Staff Contact - Sean McKenna Imerica Life & Health Insurance Company (Arkansas)Task Force Chair Andrea Bowers (South Carolina) reported that the task force is updating guaranty association claims and expense data through June 15, 2015, for a final Proof of Claim update. The task force is also continuing its efforts to secure release of outstanding deposits and working with the receiver to obtain an interim distribution. The task force expects the estate to close in 2018.
Task Force Chair - Andrea Bowers; Staff Contact - Joni Forsythe Lincoln Memorial/Memorial Service Life Insurance Companies (Texas)Task Force Chair Tad Rhodes (Oklahoma) briefed attendees on a proposal from Liberty Bankers Life Insurance Company to assume a large majority of Lincoln Memorial’s remaining policies. The MPC unanimously passed a resolution authorizing the task force to finalize negotiations with Liberty Bankers Life and to seek approval of the Assumption Agreement from the Liquidation Court.
Task Force Chair - Tad Rhodes; Staff Contact - Paul Peterson