The National Association of Fixed Annuities has announced the members of its 2009-2010 board.
Michael Tripses, president of Creative Marketing International Corp., Leawood, Kan., is succeeding Matt Nyhart as chairman.
Eric Thomes, a senior vice president at Allianz Life Insurance Company of North America, Golden Valley, Minn., was elected vice chair.
Tripses, an actuary, recalls in a statement that he gave a presentation several years ago suggesting that challenges to the fixed annuity industry included misinformation, marginalization by the larger industry, and product complications.
“Without progress by the industry, I felt the product would be vilified,” Tripses says.
NAFA can be a critical component in solving the problems facing the fixed annuity industry, by educating consumers, policymakers and others about annuities and finding ways to simplify the presentation of the annuity concept and annuity products, Tripses says.