Mike Concannon to retire after 24-year career with The Hartford
HARTFORD, Conn.–(BUSINESS WIRE)–The Hartford has appointed Jonathan Bennett to head Group Benefits, effective Aug. 5. He succeeds Mike Concannon, who is retiring after a 24-year career with The Hartford. Bennett will report to The Hartford’s Chairman and CEO Christopher Swift.
“Jonathan is a trusted financial and strategic executive whose extensive knowledge of the company and discerning insight have made him successful in a variety of roles during his 20-plus years with The Hartford,” Swift said. “Jonathan is able to draw from a multi-faceted career that includes head of Personal Lines and Small Commercial, as well as other leadership positions in finance, data and analytics, digital commerce and strategic ventures. We have great confidence in Jonathan and the Group Benefits team, and we look forward to their continued success.”
Swift added, “We thank Mike for his many significant contributions to The Hartford. Under his leadership, Group Benefits has consistently delivered year-over-year earnings growth. Mike led Group Benefits as we successfully acquired Aetna’s U.S. group life and disability business, creating a combined $5.4 billion operation that achieved record core earnings last year.”
Bennett will oversee a business unit that is No. 1 in group disability and No. 4 in group life1. Most recently, Bennett has served as the chief financial officer and head of strategy for both Property & Casualty and Group Benefits for the past seven years. He has held a variety of executive roles in Personal Lines, Commercial Markets, Ventures and Digital Commerce & Customer Analytics. Prior to joining The Hartford in 1999, Bennett held leadership roles in Cigna’s Retirement and Individual Insurance divisions. He also worked at Arthur Andersen LLP as an auditor and consultant. Bennett earned a bachelor’s degree in economics from Connecticut College and a master’s degree in accounting from the University of Hartford.
Concannon joined The Hartford in 1995 and has held leadership positions across the company, including Personal Lines and Sales & Distribution. As head of Group Benefits, he strengthened the unit’s financial performance to a market-leading position. Concannon has been a driving force behind the company’s long-standing conviction that people should be defined by what they can do versus perceived limitations. This is represented in the company’s involvement in U.S. Paralympics, Ski Spectacular and the Ability Equipped program.
About The Hartford
The Hartford is a leader in property and casualty insurance, group benefits and mutual funds. With more than 200 years of expertise, The Hartford is widely recognized for its service excellence, sustainability practices, trust and integrity. More information on the company and its financial performance is available at https://www.thehartford.com. Follow us on Twitter at www.twitter.com/TheHartford_PR.
The Hartford Financial Services Group, Inc., (NYSE: HIG) operates through its subsidiaries under the brand name, The Hartford, and is headquartered in Hartford, Conn. For additional details, please read The Hartford’s legal notice.
Some of the statements in this release may be considered forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. We caution investors that these forward-looking statements are not guarantees of future performance, and actual results may differ materially. Investors should consider the important risks and uncertainties that may cause actual results to differ. These important risks and uncertainties include those discussed in our 2018 Annual Report on Form 10-K, subsequent Quarterly Reports on Forms 10-Q, and the other filings we make with the Securities and Exchange Commission. We assume no obligation to update this release, which speaks as of the date issued.
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1 LIMRA Sales & Inforce, year-end 2018 Summary
Sabra Purtill, CFA