ING U.S. Hires Christine Dugan to Lead Closed Block Variable Annuity Segment
ING U.S. announced today that it has hired Christine Dugan to head its closed block variable annuity segment. In this role, Dugan will oversee all aspects of the segment, with a focus on disciplined financial and risk management.
Dugan brings more than 25 years of insurance industry experience, with the majority of her career spent as a consulting actuary at Milliman, Inc. While there and in other roles, Dugan focused on corporate transactional and risk management programs for a wide range of financial services and insurance businesses, including life insurance, annuities and retirement plans.
Dugan, who will be based in ING U.S.’s West Chester, Pennsylvania office, will report to Mike Smith, chief risk officer of ING U.S. Her appointment is effective March 1, 2013.
“We’re delighted to have Christine join our ING U.S. risk management team in this new role,” noted Smith. “With her consulting and financial background, she brings the right skill set and a notable depth of experience from working with many financial firms. Her acumen and approach to disciplined risk management will be important for managing this business for ING U.S.”
Dugan is a Fellow in the Society of Actuaries and member of the American Academy of Actuaries. She earned a B.S. in mathematics from Dickinson College.
In 2010, ING U.S. stopped actively writing new retail variable annuity products with substantial guarantee features and separated its closed block variable annuity segment from other operations. Accordingly, this run-off segment has been classified as closed block and is managed separately from ING U.S.’s ongoing businesses.
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About ING U.S.
ING U.S. constitutes the U.S.-based retirement, investment and insurance operations of Netherlands-based ING Groep N.V. (NYSE: ING). In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, including retirement plans, IRA rollovers and transfers, stable value, institutional investment management, mutual funds, alternative investments, life insurance, employee benefits, fixed and indexed annuities and financial planning. ING U.S. holds top-tier rankings in key U.S. markets and serves approximately 13 million customers across the nation. For more information, visit http://ing.us.