RADNOR, Pa.--(BUSINESS WIRE)--Lincoln Financial Group (NYSE: LNC) announced today that Richard Mucci has been named president of its Group Protection business, effective July 8, 2014. Mucci assumes the role from Mark Konen, president of Insurance and Retirement Solutions at Lincoln Financial Group, who had been serving since early this year as interim head of that business.
“Dick is an accomplished life insurance industry executive with a long track record of successfully leading group businesses,” said Dennis R. Glass, president and CEO of Lincoln Financial Group. “Our Group Protection business remains one of our core growth segments and we are confident that Dick’s abilities will enable us to achieve our strategic objectives in the group market.”
Mucci joins Lincoln Financial from Brant Point Consulting, LLC, a senior management advisory firm for the insurance industry that he founded in 2012 that helps life insurance companies innovate, create strategic change and drive operational improvement. Prior to Brant Point Consulting, Mucci was with New York Life Insurance Company from 2007 to 2012, where he served as chairman and CEO of New York Life International and New York Life Enterprises during his tenure, and was responsible for the company’s portfolio of international insurance businesses in Asia and Latin America.
From 2002 to 2007, Mucci held senior management roles in the Group Benefits Division of The Hartford Financial Services Group, including serving as executive vice president and senior vice president. Mucci managed the Group Benefits division at Hartford Financial that consisted of 3,300 employees, and key accomplishments included doubling premiums and tripling net after-tax profits over five years, successfully completing a major acquisition, and re-engineering the pricing and underwriting processes to drive profitable growth.
Mucci began his career in 1974 at The Paul Revere Insurance Group, where he rose to the level of COO and worked until 1997, when he joined MassMutual Life Insurance Company as senior vice president and lead of the Disability Income Strategic Business.
“We are very excited that Dick is joining Lincoln Financial,” said Konen, who leads Lincoln’s life, annuity and group protection businesses. “We have built a strong foundation for our Group Protection business, and with his deep experience leading group businesses, Dick is the ideal candidate to lead us into the future.”
Mucci attended Boston College, where he earned a Bachelor of Arts and a Master of Arts in Mathematics. He is also a Fellow with the Society of Actuaries.
About Lincoln Financial Group
Lincoln Financial Group provides advice and solutions that help empower Americans to take charge of their financial lives with confidence and optimism. Today, more than 12 million customers trust our retirement, insurance and wealth protection expertise to help address their lifestyle, savings and income goals, as well as to guard against long-term care expenses.
Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE:LNC) and its affiliates. The company had $209 billion in assets under management as of March 31, 2014. Learn more at: www.LincolnFinancial.com.
About Lincoln Financial Group's Group Protection Business
Backed by a long history of financial strength and stability, Lincoln Financial is a leader in the group insurance industry. We deliver a wide portfolio of financial protection solutions, including term life, disability, dental, accident, critical illness, universal life and vision insurance, with easy administration for our employer groups. By providing comprehensive benefit choices, along with education and tools, Lincoln Financial helps employees feel confident when selecting and using their benefits. Our distribution force of approximately 600 professionals, including sales professionals and support teams, work to provide brokers with insurance protection and solutions that not only align with employer clients' benefit strategies, and help them recruit and retain top talent, but also meet the unique needs of their employees. As of March 31, 2014, Lincoln’s Group Protection business has approximately 132,000 policies inforce and 14 million coverages.