SOURCE: Reliance Standard

Reliance Standard

July 19, 2016 08:30 ET

Reliance Standard Names New President, EVP

Drawing on Experience, Carrier Promotes Legacy Executives Chris Fazzini and Tom Burghart to Top Spots

PHILADELPHIA, PA--(Marketwired - July 19, 2016) - 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 Christopher A. Fazzini, President; and Thomas W. Burghart, Executive Vice President, effective immediately.

In addition, Mr. Fazzini will function as chief executive officer of the company's group benefits business, which includes employer paid and voluntary coverage options, medical stop loss and integrated absence management solutions. Mr. Burghart will serve as chief executive officer of the company's asset accumulation business, which includes a robust portfolio of fixed and indexed annuity products, and other financial instruments designed to help preserve and grow capital.

President and CEO Larry Daurelle made the announcement, and will retain his post as CEO of Reliance Standard until his anticipated retirement next April.

"This move is an acknowledgement of long standing, consistent leadership on the part of both men," Daurelle said. "In their respective roles, across four decades, they have driven profitable growth and consistent forward momentum at Reliance Standard, personally and through the teams they have led. The company, and our customers and stakeholders, remain in the best of hands."

Chris Fazzini joined Reliance Standard as a sales representative trainee in 1984 and has served in multiple sales and executive management positions, most recently executive vice president, sales and marketing. Under his stewardship the company brought several new products and integrated benefits solutions to market, including voluntary, limited benefit medical and stop-loss programs, as well as fully integrated disability management and ADA management.

Tom Burghart joined Reliance Standard in 1980 and has served in multiple finance, management and executive roles, most recently senior vice president, treasurer and chief risk officer. Burghart has earned his Certified Management Accountant (CMA), Financial Risk Manager (FRM) and Chartered Financial Analyst (CFA) designations, and is an alumnus of St. Joseph's University, Philadelphia, having received bachelor of science (BS) in accounting and master of business administration (MBA) degrees.

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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