Lincoln Financial Group Outlines New Structure for its Insurance and Retirement Solutions Business
PHILADELPHIA, May 5, 2011 — Lincoln Financial Group (NYSE:LNC) today announced that its Insurance and Retirement Solutions business has outlined a new structure, leveraging the strengths of its executives and increased focus on driving results in the Life Insurance, Annuities and Group Protection businesses. Under the leadership of Mark Konen, President of Insurance and Retirement Solutions for Lincoln Financial Group, this new organizational design simplifies the structure of the businesses and increases the responsibilities of the senior leaders and their respective teams.
"This is an extremely talented and experienced senior leadership team," said Konen. "Lincoln is investing heavily in our ability to grow the core businesses while we explore new opportunities that fuel our long-term success. I'm confident that our new structure will allow us to use our existing strengths to create an even more powerful and dynamic business."
Insurance and Retirement Solutions Leadership Design:
Rob Grubka, President, Group Protection — Grubka leads all functions of the Group Protection business including strategy and marketing, product development, underwriting, distribution and service. Under Grubka's direction, Lincoln will continue to show a major commitment to the Group Protection business by making significant strategic investments in product development, continued service excellence, distribution expansion and dedicated marketing resources.
Brian Kroll, Head of Annuity Solutions — Kroll leads annuity product management, product positioning, retirement solutions research and development and funds management. The team will continue to champion Lincoln's comprehensive offering of compelling and competitive needs-based solutions that help people manage retirement risk and maximize retirement income.
Mike Burns, Head of Insurance Solutions — Burns leads the manufacturing operations of the Life Insurance business, which now includes underwriting and new business, product management and product positioning. The life insurance business team will remain focused on maintaining Lincoln's existing market leadership while simultaneously growing market share through underwriting, product and process innovation and expanding into opportunities that reach a broader base of consumers. Lincoln will also look to capitalize on its underwriting strength through medical research, and technology and process improvements to speed up and simplify the underwriting process.
Jeff Coutts, Head of Financial Management — Coutts continues to lead the financial management portion of the Insurance and Retirement Solutions businesses, which includes valuation, profitability and risk management, product pricing review and asset liability management for all individual life insurance, annuity and group protection products.
Kristen Phillips, Head of Strategy and Marketing — Phillips will rejoin the company in June as Senior Vice President and Head of Strategy and Marketing for the Insurance and Retirement Solutions business. In this new role, Phillips leads the Life and Annuity manufacturing strategy functions including marketing and communications as well as product compliance and implementation.
Phillips returns to Lincoln after serving for three years as the Hartford Symphony Orchestra's Executive Director. During her tenure at Lincoln, Phillips held numerous leadership positions and was responsible for developing and implementing the life insurance and annuities business strategy, including product implementation, distribution support, and compliance.
"We are excited to have Kristen back on the Lincoln team," said Konen. "She is very familiar with the company and has developed tremendous leadership credibility and deep relationships across the enterprise. Kristen's addition, along with the new organizational structure, will help us continue to deliver industry leading solutions and drive overall growth for the company."
About Lincoln Financial Group
Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. With headquarters in the Philadelphia region, the companies of Lincoln Financial Group had assets under management of $162 billion as of March 31, 2011. Through its affiliated companies, Lincoln Financial Group offers: annuities; life, group life, disability and dental insurance; 401(k) and 403(b) plans; savings plans; and comprehensive financial planning and advisory services. For more information, including a copy of our most recent SEC reports containing our balance sheets, please visit www.LincolnFinancial.com.