GE LTC Leader Joins LTC Global
LTC Global Solutions, Inc., a privately held corporation dedicated to the long term care insurance and reinsurance markets, has named Tom Skiff to the companyÂ’s top post of Chief Executive Officer. Skiff comes to LTC Global from GE Capital,
Reno, NV (PRWEB) January 17, 2004
LTC Global Solutions, Inc., a privately held corporation dedicated to the long term care insurance and reinsurance markets, has named Tom Skiff to the companyÂ’s top post of Chief Executive Officer. Skiff comes to LTC Global from GE Capital, where he lead the companyÂ’s Long Term Care Division from 1994 to 2001, and subsequently served as president of GE Long Term Care Reinsurance Services. With his leadership GEÂ’s Long Term Care Division expanded from $50 million to $200 million in annual placed premium.
“We are delighted to have someone of Tom’s caliber and unique qualifications join our growing organization,” said Richard Pitbladdo, LTC Global’s CFO and former CEO. “His track record of leading GE Capital’s Long Term Care Division to become the world’s largest and most profitable long term care insurer speaks volumes. Many of our board members had the privilege of working closely with Tom when he subsequently founded the reinsurance division, and witnessed first-hand his integrity, dedication, and business sense.”
Skiff will lead LTC Global as it develops and grows its distribution, reinsurance brokerage, asset acquisition, and management consulting business lines. Pitbladdo will continue with the company in the CFO position.
LTC Global Solutions was founded as a boutique management consulting business in 2002, employing the risk management expertise of its principals to help insurers and reinsurers improve the level and long-term stability of profit for their long term care insurance businesses. In 2003 the company started its asset acquisition business by purchasing commission cash flows from long term care agents and agencies.
In September 2003, LTC GlobalÂ’s subsidiary, LTC Capital, paid $27.5 million to Conseco to purchase the insurance agency ACSIA, which in 1974 partnered with FiremanÂ’s Fund American Life Insurance Company to launch long term care insurance in the U. S. Tom Eaton, will continue as ACSIAÂ’s president. SkiffÂ’s experience overseeing GEÂ’s long term care career agency force will benefit ACSIAÂ’s growth initiatives.
LTC Global intends to pursue the acquisition of more LTC agencies during 2004.
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