NU Online News Service, June 6, 2003, 5:31 p.m. EDT – Lincoln National Corp., Philadelphia, says it is combining its life and annuity businesses under the leadership of John Gotta.
Gotta will be in charge of integrating operations in Hartford and Fort Wayne, Ind., Lincoln says.
Lorry Stensrud, chief executive officer of the annuity business since Lincoln separated it from the life business in June 2000, “will no longer have a role within Lincoln as a result of the realignment,” the company says.
Lincoln says it may also change the Lincoln units that sell employer-sponsored retirement plans.
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Gotta, formerly an executive at CIGNA Corp., Philadelphia, went to work for Lincoln in 1998 after Lincoln completed a $1.4 billion acquisition of CIGNA’s individual life and annuity operations.