Genworth Financial, Inc. (Richmond, Va.) named Michel Perreault and Robert P. Vrolyk as the company's new chief risk officer and chief actuary, respectively. Previously, risk management and actuarial functions reported to Vic Moses, former Genworth SVP for actuarial and risk, who retired from that position on Oct. 1, 2008.
"It's a great pleasure to welcome Michel and Robert to our senior team," said Michael D. Fraizer, Genworth CEO, in a statement. "Maintaining deep risk and actuarial capabilities are especially significant as Genworth manages through this challenging environment and positions itself for the future."
As Genworth's chief risk officer, Perreault will be responsible for enterprise-wide risk management as well as risk oversight for the Retirement and Protection business unit. He will oversee a global risk organization of more than 150 employees and will report directly to CEO Fraizer. Perreault comes to Genworth from ING Group, where since 2007 he served as SVP, chief actuary and chief insurance risk officer of the company's U.S. retail annuity business. Prior to ING, Perreault was SVP and chief actuary for Old Mutual U.S. Life Holdings. From 1994-2001, he was SVP and chief actuary at Fidelity and Guaranty Life. From 1987-1994 he served in a similar capacity at The Holden Group.
As Genworth's new chief actuary, Vrolyk will report to CFO Pat Kelleher and lead companywide actuarial efforts and corporate financial planning. He joins Genworth from Sun Life Financial U.S., where since 2003 he served as VP of Sun Life's private client group. He began his career at Sun Life's U.S. offices in 1985, serving in a variety of capacities there including financial actuary, and VP and chief actuary.
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