Waltham, Massachusetts — [March 28, 2018] Delaware Life Insurance Company is pleased to announce that David E. Sams, Jr. will assume the role of Chairman for the company, as well as its subsidiaries, Delaware Life Insurance Company of New York and DL Reinsurance Company. This coincides with the announcement that Daniel J. Towriss will become the Chief Executive Officer of the companies, succeeding Mr. Sams in that role. These changes are effective immediately.
Mr. Sams said:
“Dan’s appointment is an exciting milestone for the Delaware Life companies. I am delighted that Dan will continue to lead Delaware Life as the group pursues opportunities to bring new and innovative products and services to a wider range of people.”
Mr. Towriss noted:
“Dave has played an instrumental role at Delaware Life, helping create the foundation for growth and our ability to expand our product offerings to new customers and markets. We’re excited that he will continue to guide our business as Chairman. Dave brings critical skills to our boards and will continue to lend his valuable counsel as we focus on driving meaningful, long-term value for our customers and stakeholders.”
About Delaware Life
Delaware Life was established in August 2013 with the purchase by Delaware Life Holdings, LLC (now Group One Thousand One, LLC) of the domestic U.S. annuity and certain life insurance businesses of the Canadian company, Sun Life Financial. Through its insurance subsidiaries, Delaware Life Insurance Company and Delaware Life Insurance Company of New York, the Delaware Life group is a leading provider of annuity and life insurance products in the United States with current combined assets under management of approximately $36 billion.
For more information about Delaware Life, please visit www.delawarelife.com.
About Daniel Towriss
Mr. Towriss, an actuary by training, was chief risk officer for a unit of the international insurance company Aegon when he joined Guggenheim Partners in 2009.
As Guggenheim Partner’s insurance expert, Mr. Towriss helped the firm acquire and oversee a number of life insurance companies, in each case building a track record for growth and a return to profitability.
While he continued at Guggenheim Partners, a group of private investors led by Mr. Towriss separately created Delaware Life Holdings in 2012 to acquire the U.S. annuity and certain life
insurance business of Sun Life Financial.
Under Mr. Towriss’s leadership, Delaware Life Holdings reorganized and revitalized the acquired businesses returning them to growth and profitability, with sales of new insurance products growing in excess of 20 percent annually.
About David Sams
Prior to joining Delaware Life in 2013 as a director and Chief Executive Officer, Mr. Sams served as Vice Chairman of the board of directors of Sammons Enterprises, Inc. and also as a consultant to the company until August 2011. He was President of Sammons from 2006 to 2008, having previously served as a consultant and board member since 1999.
He retired as President of Massachusetts Mutual Life Insurance Company following the merger and successful integration with Connecticut Mutual Life Insurance Company where he was Chairman, President and Chief Executive Officer. Mr. Sams joined Connecticut Mutual after spending 27 years with Providian Corporation in Louisville, Kentucky, where he began his business career after service in the United States Army. He ultimately served as Chief Executive Officer of Providian’s agent-sold insurance operations and as Chairman of Providian’s life insurance company subsidiaries.
Alison Keunen – (212) 453-2460 / Alison.firstname.lastname@example.org
Gina Feghali – (212) 453-2264 / Gina.Feghali@fleishman.com
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