Mutual of Omaha Taps Former Prudential Exec as CIO
June 3, 2016 by Marie Suszynski
OMAHA, Neb. – Mutual of Omaha has tapped Richard Hrabchak to be executive vice president and chief investment officer.
Hrabchak joins Mutual of Omaha from Prudential Financial, where he spent 29 years and was most recently chief investment officer for the company’s U.S. retirement business, Mutual of Omaha said in a statement.
In his new role, Hrabchak will oversee and manage Mutual of Omaha’s investment portfolios.
“In addition to extensive investment and portfolio management experience, Rick brings an impressive leadership style, a strong performance ethic and an appreciation for the culture of mutual insurance companies,” Dave Diamond, executive vice president, chief financial officer, and treasurer, said in a statement.
Last year, Mutual of Omaha named James Blackledge its new chief executive officer, after Dan Neary retired on April 1. Neary had served for nearly 10 years at the company’s top post but remains the company’s chairman of the board. (Best’s News Service, March 10, 2015).
At the end of 2015, Mutual of Omaha had $2.41 billion in net premiums written, which was up 10.3% from the previous year, according to BestLink.
Members of Mutual of Omaha Group have a current Best’s Financial Strength Rating of A+ (Superior).
(By Marie Suszynski, BestWeek Correspondent: Marie.Suszynski@ambest.com)
