People Moves: Venerable Appoints Two; Burkhart Joins USG; Harvey Joins The Roland Grindle Agency

Venerable Appoints Two New Finance and Risk Leaders in Pennsylvania

Venerable has appointed two new leaders to the company’s finance and risk organizations.

Wei Kiat Teo, vice president and head of capital management based in West Chester, Pennsylvania, has joined Venerable from Prudential Financial, having served in several actuarial roles and most recently on a corporate development team focused on mergers and acquisitions, both domestic and internationally.

Teo will be responsible for overseeing the determination of the value of investor’s equity into Venerable’s parent company, development of corporate model projection forecasts, analyzing and strategizing capital deployment, evaluating strategic initiatives and monitoring experience and assumption setting for select policyholder behavior assumptions.

Teo has experience in modeling and assumptions and previously supported the variable annuity business that Venerable acquired as a result of the transaction with Voya Financial Inc. that closed in 2018.

Gil Chua has been appointed as head of risk management strategy for Venerable Holdings Inc. and will partner with several teams across Venerable’s operating company to align the company’s risk management approach by developing investment portfolio objectives, optimizing portfolios and the liability hedge program and supporting liquidity management activities.

Chua joins Venerable from Goldman Sachs where he was a vice president and portfolio manager within the multi-asset class team and previously held roles in interest rate products quantitative strategy and interest rate products trading. Chua will be based in West Chester, Pennsylvania.

Venerable is a privately held company with business operations based in West Chester, Pennsylvania, and Des Moines, Iowa. It owns and manages legacy variable annuity business acquired from other entities.

Source: Venerable

USG Hires Burkhart as a Commercial Lines Producer and Broker in Pennsylvania

USG Insurance Services Inc., a national wholesaler and managing general agency, has hired Michael Burkhart as a producer and broker for commercial lines in the Canonsburg, Pennsylvania, branch.

Burkhart joins the USG team with 20 years of insurance experience in all facets of the industry, most recently with Good’s Insurance Agency. In his new role at USG, he will continue to develop his book of business and expand his agency relationships.

This move is the most recent change that USG has implemented in its plan to expand operations nationwide and continue to provide solutions for the risk management industry.

Source: USG Holdings Inc.

Maine’s The Roland Grindle Agency Hires Harvey as a Commercial Lines Insurance Specialist

The Roland Grindle Agency in Bucksport, Maine, a division of Brown, Holmes & Milliken, has hired Autumn Harvey as a commercial lines insurance specialist. She is based in Winterport, Maine.

Harvey has worked locally in the insurance industry for the past twelve years. Along with commercial lines, she will also handle all lines of property/casualty insurance.

Serving the greater Bucksport community for more than 80 years, the Roland Grindle Agency was purchased by Brown, Holmes & Milliken in December 2019. It is a full-service independent insurance agency owned by Paul Tracy and Patrick Maguire, offering personal, business, life and health insurance.

Source: The Roland Grindle Agency