Independence Health Group appoints Gregory E. Deavens as chief financial officer

PHILADELPHIA, PA--(Marketwired - January 23, 2017) - Independence Health Group (IHG) announces the appointment of Gregory E. Deavens, CPA, CGMA, as chief financial officer effective January 30, 2017. Deavens was previously employed by MassMutual Financial Group from 2006 to 2016, where he most recently served as the company's senior vice president and corporate controller.

As chief financial officer for IHG, Deavens will direct all financial functions for Independence Blue Cross and other IHG subsidiaries while playing a key role in strategic planning for the organization. He will also hold the roles of executive vice president and treasurer.

"Strong fiscal leadership has never been more important in our industry, and Greg brings a track record of leadership, vision, and strategic planning to our Finance organization during a transformative time," said Daniel J. Hilferty, president and chief executive officer of Independence Health Group. "His broad finance and strategy experience across the insurance and health care fields will serve him and Independence Health Group well as we prepare for the ambitious work ahead of us."

During his tenure with MassMutual Financial Group, Deavens led the enterprise controllership function with responsibility for financial reporting, accounting policy, investment accounting and reporting, financial systems, and insurance accounting functions. Prior to that, he served as senior vice president and chief financial officer for MassMutual's U.S. Insurance Group. His earlier experience includes financial leadership roles with New York Life Insurance Company, CIGNA, GE Capital, and PriceWaterhouse.

Deavens currently serves on the board of directors for Hartford Healthcare. He is also a board member for The Executive Leadership Council and The Amistad Center for Art & Culture.

Deavens succeeds Alan Krigstein who served as executive vice president, chief financial officer, and treasurer for IHG. Krigstein is credited with transforming the Finance division -- modernizing financial functions, increasing efficiency, and bringing a strategic viewpoint to financial management. During his tenure, Krigstein oversaw several key initiatives and helped to create the Independence Blue Cross Foundation. Krigstein retired in December 2016.

"Alan's foundational work helped to turn Independence Health Group into a national leader in health care -- one that could attract a stellar candidate like Greg Deavens to succeed him," said Hilferty. "In two decades at Independence Health Group companies, Alan provided critical guidance and outstanding financial management."

About Independence Health Group
Independence Health Group, together with its subsidiaries, serves more than 8.5 million people in 29 states and the District of Columbia, including nearly 2.5 million in southeastern Pennsylvania. In addition to a growing consumer business, Independence Health Group serves employer groups ranging from small businesses to national corporations. Headquartered in Philadelphia, Independence Health Group is a diversified company offering a wide range of services including commercial, Medicare and Medicaid medical coverage, third-party benefits administration, and pharmacy benefits management.

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• Greg Deavens