John G. Vrysen has been named president of the annuity business at John Hancock Financial Services in Boston. In his new position, he will oversee all annuity lines at the company, including fixed, variable and immediate annuities; structured settlements and institutional fixed products.
Vrysen has been with Manulife (John Hancock’s Canadian parent company) and John Hancock for 34 years, holding a variety of positions, including chief actuary for variable annuities, chief financial officer for U.S. operations, chief operations officer for Wood Logan, general manager of fixed annuities and chief operating officer for John Hancock Funds.
Since 2008, Vrysen had served as head of strategic initiatives at John Hancock, most recently spearheading the merger of a number of the company’s life insurance subsidiaries, resulting, according to the company, in a more efficient capital and operating structure.
“John has held many leadership roles at our company, including spending several years in the variable and fixed annuities businesses, making him an excellent choice to lead those businesses today,” said James R. Boyle, president of John Hancock Financial Services, in a statement.
Vrysen is currently a director/trustee on the boards of John Hancock Life Insurance Co. (U.S.A.) and John Hancock Funds. Vrysen will report to Hugh McHaffie, president, U.S. wealth management.
Vrysen succeeds Marc Costantini, who is now head of strategic initiatives at the company.
The announcement follows on the heels of John Hancock’s recent announcement it intends to limit its annuity exposure.