In separate announcements, Prudential Financial and Fireman’s Fund Insurance Company reported on Monday that Lori Dickerson Fouché has left her position as Fireman’s Fund’s president and chief executive officer to take on new roles at Prudential, and that she will be replaced by Andrew Torrance in her prior positions.
Fouché left the company to be closer to her family on the East Coast, the Fireman’s Fund statement said.
Torrance, who is expected to assume his new role later this summer, is a 30-year veteran of the insurance industry, most recently serving as CEO of Allianz UK, one of the largest general insurers in the UK and part of the Allianz SE Group.
Prior to being appointed CEO in 2003, he was the director and head of the Allianz broker division. Torrance also held senior and board positions at consulting firms and insurers, including London & Edinburgh and Boston Consulting Group.
Fouché is joining Prudential Financial, Inc. in the role of president and chief operating officer of Prudential’s Group Insurance business.
She will have overall responsibility for the life, disability and voluntary product offerings, sales and account management, as well as service delivery and marketing, reporting to Stephen Pelletier.
Pelletier has headed the business since 2012 as president and will become CEO, Prudential Group Insurance.
Prior to joining Fireman’s Fund, Fouché, a 20-year veteran of the insurance industry, worked for Chubb for several years in various roles, rising to the rank of senior vice president in Chubb Specialty Insurance. She earned a Master of Business Administration degree at Harvard Business School and a Bachelor of Arts in history from Princeton University.
Torrance holds a degree in theoretical physics from the University of Cambridge and a master’s degree from the London Business School.
His appointment is subject to approval by the board of directors of Fireman’s Fund Insurance Company.
In a media statement, Gary Bhojwani, Chairman of Fireman’s Fund and Allianz SE board member, praised Torrance for his “track record of executing on established priorities and delivering consistent profitability in a challenging business environment during his 14-year career at Allianz.”
Commenting on Fouché’s experience, Prudential’s Charles Lowrey, chief operating officer of U.S. Businesses, said her “broad industry knowledge and strong track record of leadership will be a tremendous asset to our Group Insurance business and Prudential overall.”
Sources: Fireman’s Fund Insurance Company, Prudential Financial, Inc.