Protective Life elects new board chair

Protective Life Corporation, a wholly owned US subsidiary of Dai-ichi Life Holdings, has named Michael Morrissey as chairman of its board of directors.

Morrissey was formerly president and chief executive officer of the International Insurance Society (IIS) and has served on Protective’s board since May 2020.

He succeeds W. Michael Warren Jr who has served on Protective’s board since 2001, and as chairman since November 2019. Warren will remain on the board.

Prior to joining the IIS, where he served as president and CEO for more than a decade, Morrissey was chairman and CEO of Firemark Investments, a business he founded and also served as chief investment officer and portfolio manager of the Firemark Tiger Fund. Before that he was president of Manhattan Life Insurance and senior vice president of Crum & Forster.

Morrissey is a member of the executive committee of the board at Selective Insurance Group, and has chaired its finance, corporate governance and compensation committees. He is also an insurance working group member of the National Bureau of Economic Research, a special advisor to the Asia Pacific Financial Forum, and a member of the board of governors of the Asia Pacific Risk & Insurance Association.

Hidehiko Sogano was also elected to Protective’s board. Sogano currently serves as managing executive officer of Dai-ichi Life Holdings and director of DLI North America, chair of Dai-ichi Life International Europe, non-executive director of Star Union Dai-ichi Life Insurance and CEO of Dai-ichi Life Reinsurance Bermuda.

Sogano previously served as advisor of Dai-ichi Life Holding and director of DLI Asia Pacific and Dai-Ichi Life Insurance in Cambodia. Before joining Dai-ichi Life Group he served 32 years at the Bank of Japan, mainly in the international field.

Morrissey said: “As we navigate an industry full of opportunities, Protective has a strong leadership team in place, and I’m looking forward to continuing our work to build the business for the future and deliver on promises to customers.”

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