Genworth Taps Grady to Head Retirement Income Unit

Genworth Financial, Inc. has named Chris Grady President of its Retirement Income business.

According to a press release, Grady brings to Genworth a 28-year record of accomplishment in the insurance industry, most recently at Merrill Lynch – a firm he joined in 1995 as an estate and business insurance specialist. Subsequently he held positions of increasing responsibility, becoming Managing Director and running the distribution for all of Merrill Lynch’s retail banking businesses, according to a Genworth press release.

Grady began his career as an agent at Mass Mutual, becoming one of the youngest producers in the country to qualify for life membership in the Million Dollar Round Table. At Mass Mutual, Grady advanced through positions of increasing responsibility, becoming Director of Advanced Marketing prior to joining Merrill Lynch.

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“Chris is a dynamic addition Genworth’s Retirement and Protection executive team,” said Pam Schutz, Executive Vice President, Retirement and Protection for Genworth in a press release. “Chris’ core strengths lie in leading and motivating people, putting in place appropriate structures and processes and driving sales results. He is charged with leading the business that will accelerate our leadership in the retirement markets and executing on Genworth’s strategic goals, in particular becoming the preferred distributor partner in the retirement industry.’

OneAmerica Acquires 403(b) Participants from Transamerica

OneAmerica Financial Partners, Inc. purchased a block of 403(b) business from Transamerica Life Insurance Company, increasing the number of plan participants with the Indiana-based company by more than 40,000.

According to a press release about the acquisition, OneAmerica purchased the block of fixed income annuity 403(b) business through a reinsurance agreement, but did not disclose the terms of the deal.

The purchase of this block of fixed annuity 403(b) business is expected to increase scale by adding plan participants to the existing 400,000 served currently by the retirement services division of American United Life Insurance Company (AUL), a OneAmerica company.

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This acquisition represents another strong step toward growing the OneAmerica enterprise,” said OneAmerica President and CEO Dayton H. Molendorp, in the press release. “We built our retirement business in the 403(b) market more than 40 years ago, and this transaction underscores our commitment to the retirement services franchise.”

For more information visit http://www.oneamerica.com/Home.

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