Protective Life Realigns Operational Structure with Focus on Customer Needs

Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750), today announced a new structure that organizes its life and annuity retail businesses into two distinct operating divisions based on customer needs: Protection and Retirement. The new structure will go into effect on February 1, 2020.

"In recent years, Protective has experienced unprecedented growth, enabling us to reach more customers in new ways with an expanded product portfolio and new distribution channels," said Rich Bielen, Protective's President & Chief Executive Officer. "We are excited to announce this new operating structure, which we believe will help us better serve customer needs, develop our next generation of leaders and drive strategic growth."

The newly created Retirement Division will focus on helping people achieve financial security during retirement through the sale of products that provide the protection and growth of retirement assets, guaranteed income and efficient wealth transfer. Aaron Seurkamp will step into the role of President, Retirement Division, leading all new business aspects of the segment, including product development, sales and new business operations. Seurkamp, who joined Protective in 2004 and most recently served as Senior Vice President, Life & Annuity Executive, will continue leading the marketing and distribution operations functions for the enterprise and overseeing management of Protective's three distribution companies: ProEquities, Inc., First Protective Insurance Group and Protective Distributors.

The newly created Protection Division will focus on helping families and business owners provide financial security to those they care about through protection-focused insurance products. Wade Harrison will step into the role of President, Protection Division, leading sales, new business operations and product development for this business segment. Harrison, who joined Protective in 2014 and most recently served as Senior Vice President, Chief Product Officer, will also continue leading the shared service platforms of underwriting and data science.

These changes follow the 2019 announcement naming Mike Temple as Vice Chairman and Chief Operating Officer. In November 2019, Protective also expanded the roles of Cissy Williams, Senior Vice President, Chief Customer Officer, and Matthew Kohler, Senior Vice President, Chief Technology Officer. Williams and Kohler are responsible for providing vision and leadership for critical parts of Protective's business – serving millions of customers and strategically deploying technology to support the company's mission, goals and business priorities. Scott Adams, Executive Vice President, Corporate Responsibility, Strategy & Innovation, and Scott Karchunas, Senior Vice President and President, Asset Protection Division, will continue reporting to Temple.

"In aligning our retail businesses around customer needs, we are building a foundation for Protective's strategic plans," said Temple. "Customers are at the heart of our business, and we are confident that the changes we are announcing today will help put us in the strongest position to continue solving customer needs and providing a great customer experience for years to come."

About Protective Life Corporation

Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective's growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective's home office is located in Birmingham, Alabama, and its 3,000+ employees are located in offices across the United States. As of September 30, 2019, Protective had assets of approximately $120 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE:8750). For more information about Protective, please visit www.Protective.com.

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