Reliance Standard names new executive leadership

PHILADELPHIA, PA--(Marketwired - May 08, 2017) - Reliance Standard Life Insurance Company (Reliance Standard), a leading insurance carrier specializing in employee benefits solutions for companies of all sizes and annuity products for individuals, has named Evan G. Schaffner, Senior Vice President, Group Sales Operations; and Thomas A. Lutter, Senior Vice President, Chief Financial Officer and Treasurer, effective immediately. Both positions report directly to Chris Fazzini, President and Chief Executive Officer, Group Benefits.

Mr. Schaffner joined Reliance Standard in 2004, most recently serving as Vice President, Sales and Service Operations. During that time he has helped to materially increase revenue and profitability by thoughtful organizational design and careful management of client-facing functions. In his new role he is responsible for developing, implementing and delivering strategy in support of service excellence across all stakeholder segments. In this regard he maintains direct oversight of both consolidated and field-based teams dedicated to client service, sales support, account management, premium billing and accounting, customer care, agency licensing and marketing.

A benefits industry veteran with more than 20 years of experience in various sales, operations, management and product development positions, Mr. Schaffner spent ten years with global benefits insurance carrier Cigna prior to joining Reliance Standard. He earned his MBA from Hofstra University and his bachelor's degree in business administration from the State University of New York.

Mr. Lutter comes to Reliance Standard from Voya Financial, Inc. (formerly ING US), where he most recently served as Senior VP, Enterprise Financial Planning and Analysis. He also served as Senior VP, Chief Financial Officer of ING Insurance Solutions. Prior to Voya Financial, Mr. Lutter served in finance and management roles with Cigna and PricewaterhouseCoopers. In his role at Reliance Standard Mr. Lutter will oversee all Finance operations in support of profitable growth of group employee benefits premiums and asset accumulation. He succeeds Tom Burghart, promoted last year to Executive Vice President and Chief Executive Officer, Asset Accumulation, who is coordinating the executive leadership transition.

Mr. Lutter earned his Bachelor of Science degree in Accounting from LaSalle University and has earned his Certified Public Accountant (CPA) and Chartered Global Management Accountant (CGMA) designations. He also served as a commissioned officer in the United States Army.

"We are excited to welcome Evan and Tom to the executive leadership team," said Chris Fazzini, president of Reliance Standard. "Together they represent a great blend of demonstrated organizational advancement and market leading expertise. Most important, they are both strong proponents of predictable, profitable growth through excellence in service delivery."

Rated A+ (Superior) by A.M. Best, Reliance Standard Life Insurance Company (Reliance Standard) was founded in 1907 in Chicago, IL, as the Central Standard Life Insurance Company.

Innovative and flexible employee benefits solutions include disability income and group term life insurance, a suite of voluntary (employee paid) coverage options and fully integrated absence management in partnership with sister company Matrix Absence Management. Reliance Standard markets these solutions nationwide through independent brokers and agents to employers of all sizes.

Asset accumulation products enable preservation and risk-controlled growth of capital through a portfolio of traditional and indexed fixed annuities.

In New York, insurance products and services are provided by First Reliance Standard Life Insurance Company, Home Office New York, NY.

Reliance Standard is a member of the Tokio Marine Group. Tokio Marine Holdings, Inc., the ultimate holding company of the Tokio Marine Group, operates in the property and casualty insurance, reinsurance and life insurance sectors globally. The Group's main operating subsidiary, Tokio Marine & Nichido Fire (TMNF), was founded in 1879 and is the oldest and leading property and casualty insurer in Japan.

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