RGA promotes exec to senior vice president and CFO role
Reinsurance Group of America (RGA), the life and health-related reinsurance group, has promoted Todd Larson to the role of senior executive vice president and chief financial officer (CFO), effective May 1, 2016.
Larson is currently the company's executive vice president (EVP) and chief risk officer (CRO).
In the new role, he will succeed Jack Lay, who will be 62 upon retirement at the end of the year. RSA said Lay has been instrumental in guiding the company’s finances since its initial public offering in 1993. Through the end of the year, Lay will retain oversight responsibility for the company's investment function and will support the transition of the chief financial officer responsibilities to Larson. Those responsibilities include oversight of RGA’s financial, treasury and capital management functions, as well as all aspects of internal and external financial reporting.
Larson joined RGA in 1995 as vice president and controller, and assumed additional responsibilities as RGA grew. As EVP, corporate finance and treasurer, he was responsible for all external reporting, including filings to the Securities and Exchange Commission, regulatory filings, and the annual report to shareholders. Larson was also responsible for internal management of financial reporting for RGA’s various operating segments and subsidiaries, as well as the capital management and treasury functions.
In his current position as EVP and CRO, he is responsible for global enterprise risk management.
A Greig Woodring, RGA's chief executive officer, said: “Jack and I have worked together for over 20 years. He has acted as my close advisor and trusted partner in steering RGA toward major milestones, including RGA’s initial public offering, our global expansion in the years that followed, and most recently, our investment in a new global headquarters.
“Jack’s decision to retire in his 25th year with the company was reinforced by RGA’s strong financial condition and excellent strategic position at this time, and by his full confidence in Todd’s capabilities to assume this important role. I am proud of the strong leadership team RGA has developed. This enables us to ably transition critical positions like this to executives with significant experience and understanding of RGA’s unique and successful culture.”
Anna Manning, president, RGA, added: “Todd has a wealth of industry and capital markets experience, and has been instrumental in sustaining RGA’s sound financial and capital management practices through all business cycles. Greig and I are very pleased to have a trusted and talented successor to the CFO role. I know Todd is the right person to partner with me as we build and execute our future strategies.”
