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Lockton Dunning acquires Excelsior Solutions

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Lockton Dunning Benefits added to its employee benefits consulting company with the acquisition of Excelsior Solutions, a pharmaceutical and healthcare consulting company headquartered in Minneapolis, Minn.

Former Excelsior Solutions President Kenneth Dowell joins Lockton Dunning Benefits as senior vice president and chairman of the Lockton Pharmacy Analytics Advisory Board.

The transaction was completed Oct. 1. Terms of the acquisition were not disclosed. Excelsior Solutions will retain their name in the immediate future. The combined operation employs 192 associates. 

In other industry news:

The American Bankers Insurance Association (ABIA) elected new officers and directors to serve on the 2012-2013 board.

Serving as the new president and chairman is Neal Aton, head of centralized insurance for Wells Fargo Insurance. He will play a role in appointing committees, establishing priorities and leading the strategic initiatives of ABIA.

The new officers include:

  • President and Chairman: Neal Aton, head of centralized insurance, Wells Fargo Insurance Inc., Chicago
  • Vice President: Val Teagarden, vice president, First United Bank & Trust, Oakland, Md.
  • Secretary: Wayne Conte, executive vice president, Affinion Group, Franklin, Tenn.
  • Treasurer: Peter Dunlap, president, Huntington Investments Company, Columbus, Ohio
  • Immediate Past President: Paul G. Petrylak, president, CIT Insurance Services, New York

The new board members are:

  • Joan Cleveland, senior vice president, Prudential Financial, Newark, N.J.
  • D. David Cissell, executive vice president, American Modern Insurance Group, Amelia, Ohio
  • Patrick Cozza, CEO and regional head, HSBC Insurance, Wilmington, Del.
  • Brian Duffy, president and chief operating officer, RSI Insurance Agency, Inc., Rahway, N.J.
  • Joseph Fico, president and CEO, TD Insurance, Boston
  • Andrea Holder, chief financial officer, BB&T Insurance Services Inc., Raleigh, N.C.
  • Richard Katz, vice president, direct marketing and sales, American National Insurance Company, League City, Texas
  • Todd Schubert, senior vice president, Transamerica, Baltimore
  • David Seidel, senior vice president and chief actuary, Securian Financial Group, Inc., Saint Paul, Minn.


Northwestern Mutual introduced the Select Portfolio Deferred Income Annuity that offers growth potential through nonguaranteed dividends.

Individuals can also elect to take any dividends in cash or apply them to increase income, or they can do a combination of both. Although dividends are not guaranteed, the company has paid dividends on eligible life policies every year since 1872.

Individuals can purchase the Annuity with a lump sum payment of tax-qualified funds, such as funds held in a 401(k) plan or a traditional or Roth IRA.


The National Association of Plan Advisors (NAPA) and The American Society of Pension Professionals & Actuaries (ASPPA) launched the NAPA Net web portal to inform and connect retirement plan advisors.

The portal is designed to provide plan advisors with a voice and community through which they can access and share news, commentary, interactive forums, research and webcasts. The website will feature a series of channels including regulatory compliance, practice management, service providers, social media, strategic partnerships and a variety of investment topics. Editors at NAPA Net will produce a daily e-newsletter of what is new in the 401(k) marketplace.

NAPA Net will also feature a professional directory including advisors, third party administrators and other service providers.

NAPA was created in 2011 as an affiliate organization of ASPPA to give retirement plan advisors a voice in Washington, D.C. Since its launch, NAPA has grown to more than 3,750 members and 67 founding partners that include financial institutions, broker dealers and Registered Investment Advisor RIA firms.

For more information or to subscribe to the free daily newsletter, visit NAPA Net at

Lincoln Financial Group (NYSE:LNC) expanded its Lincoln Protected Strategies lineup with the introduction of its new Risk Portfolio Management (RPM) Funds for Lincoln ChoicePlus Assurance variable annuity products. 

The new RPM strategy for Lincoln’s products seeks to manage volatility daily, while providing advisors and investors the choice and flexibility to build customized portfolios when selecting Lincoln’s living benefit guarantees. The Lincoln Protected Strategies are designed to reduce exposure to market volatility and seek to protect account values, providing investors the potential to enhance their variable annuity guarantees and maximize income during retirement.

Lincoln’s ChoicePlus Assurance products include RPM as part of six existing funds, and one new fund – the LVIP BlackRock Emerging Markets Index RPM Fund. The RPM funds enable clients to build their own asset allocation portfolios with asset managers including BlackRock, Columbia, Franklin Templeton, J.P. Morgan, State Street Global Advisors and UBS.

In accordance with Lincoln’s investment guidelines, the RPM funds allow clients to choose from an array of individual single asset class options including large, mid and small-cap funds, as well as domestic and international market exposure and fixed income options. In addition, RPM funds include a tactical allocation option. Lincoln Investment Advisors Corporation manages the RPM funds on a daily basis. Using exchange traded futures, RPM funds implement risk overlay without interrupting the investment process of the funds’ sub-advisors. 

Lincoln is also introducing the LVIP American Preservation Fund, a new fixed income fund for Lincoln’s American Legacy variable annuities. The LVIP American Preservation Fund consists of a mix of bond funds designed to offer fixed-income diversity and stability in times of high market volatility. The fund contains a mixture of both AFIS Funds and American Funds Retail Funds.


Settlers Life Insurance Company is currently recruiting final expense whole life insurance agents in seven new states: New Jersey, Missouri, Kansas, Oklahoma, Arkansas, Nebraska and New Mexico.   

Settlers Life agents can choose from a portfolio of products along with four payment options, in addition to several other features for those agents selling final expense life insurance.  Settlers Life has more than 2,800 independent agents appointed in 36 states.