(Image source: CL Life homepage.)
CL Life and Annuity Insurance Company (Fort Worth, Texas), a provider of insurance products designed for retirement assets that seek to offer policyholders stable growth, tax deferral and income planning, has announced the appointment of Douglas Brown as Chief Actuary. In this new role, Brown will be responsible for providing strategic insights and actuarial advice to the firm’s senior management team, as well as play a critical role in driving financial success and managing risk, according to a statement from CL Life.
“We’re pleased to welcome Douglas to the team and look forward to leveraging his decades of experience as we continue to expand both the scope and scale of the CL Life and Annuity platform,” comments Rick Hodgdon, President, CL Life and Annuity Insurance Company. “Douglas offers a wealth of knowledge and specialized expertise that will be paramount to driving the Firm through its next stage of growth.”
“I’m thrilled to be joining the CL Life team during such an extraordinary period in the Firm’s evolution,” comments Brown. “CL Life maintains a premier senior management group, representing decades of collective experience driving innovation, partnership and a vision to deliver outsized impact for its clients throughout the life insurance industry. I look forward to contributing to its continued success.”
Deep Product Development Experience
Prior to joining CL Life, Brown was a Founding Partner of Trilogy Actuarial Solutions (Austin, Texas). Brown started his career in 1996 performing life insurance and product development for industry-leading life insurance companies before transitioning to consulting roles in 2012, culminating in the founding of Trilogy Actuarial Solutions in 2020. As a consultant, Brown acted as both the appointed and illustration actuary for a range of companies supporting them in valuation, financial reporting, and management consulting.
CL Life provides insurance products to independent agents through tax-deferred fixed annuities, which offer lifetime income options and penalty-free withdrawals. The firm was acquired by Crestline Investors, Inc. (Fort Worth), an institutional investment management firm with approximately $17 billion in assets under management, in August 2022.