Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), is pleased to announce that Michael J. Morrissey, former President and Chief Executive Officer of the International Insurance Society (IIS), has been appointed Chairman of its Board of Directors, effective May 11. Mr. Morrissey has served on Protective’s Board of Directors since May 2020.
“Serving as a member of the Protective Board of Directors for the past year has been a privilege, and I’m honored to now serve as Chairman of the Board,” said Mr. Morrissey. “As we navigate an industry full of opportunities, Protective has a strong leadership team in place, and I’m looking forward to continuing our work to build the business for the future and deliver on promises to customers.”
Prior to joining the IIS, where he served as President & CEO for more than a decade, Mr. Morrissey was chairman and CEO of Firemark Investments. As a founder of Firemark, he was also the chief investment officer for the company and portfolio manager of the Firemark Tiger Fund. Before establishing Firemark, Mr. Morrissey was president of Manhattan Life Insurance Co. and senior vice president of Crum & Forster.
Mr. Morrissey is a member of the Executive Committee of the Board of Directors of Selective Insurance Group, and has chaired its Finance, Corporate Governance and Compensation Committees. He is also an insurance working group member of the National Bureau of Economic Research, a special advisor to the Asia Pacific Financial Forum, and a member of the Board of Governors of the Asia Pacific Risk & Insurance Association. He was a member of the Board of Overseers of the St. John’s University of School of Risk Management, and the Steering Committee of the Insurance Development Forum, a public/private partnership of the insurance industry, the United Nations and the World Bank. He was also a member of the Steering Committee of the World Economic Forum’s Mitigating Risk in the Innovation Economy initiative. Mr. Morrissey holds a B.A. from Boston College and an MBA from Dartmouth, and he has completed the Harvard Business School Corporate Finance Program. He is also a Chartered Financial Analyst and former President of the Association of Insurance and Financial Analysts.
Stepping into the role of Chairman, Mr. Morrissey succeeds W. Michael Warren, Jr. who has served as Chairman of Protective’s Board since November 4, 2019. Warren will continue serving on the Protective Board of Directors, as he has since 2001.
Effective April 23, Hidehiko Sogano was elected to Protective’s Board of Directors. Mr. Sogano currently serves as Managing Executive Officer of Dai-ichi Life Holdings, Inc. He also serves as Director of DLI NORTH AMERICA Inc., Chair of Dai-ichi Life International (Europe) Limited, Non-Executive Director of Star Union Dai-ichi Life Insurance Limited and CEO of Dai-ichi Life Reinsurance Bermuda Ltd. He has previously served as Advisor of Dai-ichi Life Holdings, Inc., Director of DLI ASIA PACIFIC PTE. LTD,. DAI-ICHI LIFE INSURANCE (Cambodia) PLC. and before joining Dai-ichi Life Group, he served 32 years at the Bank of Japan, mainly in the international field. He holds a Certificate of Institute d’Etudes Politiques de Paris and a Bachelor of Economics from Keio University.P