there is always room for an innovative new player. This is the
philosophy behind Futurity First, a new US life insurance
distribution company to be headquartered in Hartford, Connecticut.
According to Futurity First, it plans to distinguish itself by
focusing on the middle-income and small business markets and by
providing its customers with “the same level of product quality,
advice, professionalism and service that the high net worth market
has enjoyed for years”.
Futurity First’s four founders and senior executives have strong
backgrounds in the life insurance industry; its CEO and president,
Edward Berube, has more 30 years of experience and was most
recently president and CEO of Bankers Life and Casualty, a unit of
insurer Conseco. Two founders, Karen Matheson and Joy McConnell,
held senior positions at Lincoln Financial Group, while Thomas
McConnell was a MetLife senior executive.
Financial backing for the venture comes from financial
services-focused private equity firm Aquiline Capital Partners,
which is to invest up to $100 million to fund development of
Futurity First, including the establishment of a national network
of 150 offices by 2013.
On completion of its office network, Futurity First anticipates
having more than 3,000 agents in its employ marketing life
insurance, health insurance and annuity products from what it terms
“a select group of industry-leading carriers”.
Initial product providers are anticipated to include American
International Group, American General, Genworth Financial and
Lincoln Financial Group.