Lincoln Financial Gets New Individual Life & Annuities Head

By Allison Bell

News May 16, 2024 at 03:08 PM

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Lincoln Financial has picked Brian Kroll, a former company executive, to take over as head of retail life and annuity solutions.

Kroll succeeds Matt Grove, who will serve as a company advisor until Dec. 31, according to a new filing.

Ellen Cooper, Lincoln Financial's CEO, said the company expects Kroll to help the life and annuity unit increase profitable growth and shift toward sales of products with more stable cash flows and higher risk-adjusted returns.

"His deep expertise and collaborative leadership style will add tremendous value," Cooper said.

Earlier this month, Cooper told securities analysts that tougher competition hurt the company's annuity sales in the first quarter.

John Kennedy, an executive vice president, continues to be Lincoln's chief distribution and brand officer.

Matt Grove: Lincoln hired Grove in 2022.

He previously was the CEO of Resolution Life USA.

Grove will "receive the post-employment payments and benefits associated with an involuntary termination not for cause," according to the filing.

Grove declined to comment.

Brian Kroll: Kroll, who is an actuary, worked for Manulife and MetLife before joining Lincoln Financial as a life and annuity unit product management executive in 2004.

He worked for the unit for about 18 years. When he left, in 2022, he was a senior vice president and head of annuity solutions.

While at Lincoln, he helped the company launch its RILA product.

He has a bachelor's degree from Minnesota State University, Mankato.

In 2022, LIMRA honored him for his efforts to support its continuing education fund.

Brian Kroll. Credit: Lincoln Financial

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