Prudential Monetary has introduced that Mike Estep, head of product for group insurance coverage, will succeed Yanela Frias as president of its group insurance coverage enterprise.

As well as, Frias will change into the CFO of Prudential.

Estep as president of group insurance coverage will report back to Caroline Feeney, head of Prudential’s US companies.

Since becoming a member of the agency as head of product for group insurance coverage in 2022, Estep has led all facets of product technique. This consists of the event of a strategic roadmap for the agency’s present and future product portfolio with a give attention to buyer relevancy and sustainable, worthwhile progress.

Jess Gillespie will succeed Estep as head of product for group insurance coverage.

“Mike’s management has been instrumental in growing a long-term imaginative and prescient for our product technique and driving enterprise progress.” mentioned Feeney. “His distinctive monitor file and client-first method will guarantee our continued progress in positioning Group Insurance coverage as a pacesetter in delivering complete monetary options to our shoppers.”

In 2023, Prudential Monetary and non-public fairness firm Warburg have launched Pincus Prismic Life Reinsurance, a Bermuda-based life and annuity reinsurance firm.

The brand new licensed reinsurance firm has obtained a mixed preliminary fairness funding of $1bn from Prudential, Warburg and a bunch of buyers.

It is going to be led by Prudential’s worldwide reinsurance enterprise founding chief Amy Kessler.

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