Foresters Financial elects leadership to its Board of Directors

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Jun 14, 2021, 10:27 ET

TORONTO, June 14, 2021 /PRNewswire/ - Foresters Financial™ (Foresters), the fraternal life insurer that is quietly redefining the life insurance industry, today announced the election of its new Board of Directors, for a four-year term beginning in 2021.

Re-elected to the Board are Katherine A. Bardswick, Sonia A. Baxendale, Daniel J. Fortin, Michael Lombardi, Michael P. Stramaglia, Wendy A. Watson, Michael C. Edge, and Robert W. Wight. New members to the Board include three independent business directors, Janice Madon, Gino Scapillati, and Linda A. Watters, and new independent fraternal board members, Shelly A. Herman and Cynthia L. Worley. The five independent fraternal board directors were elected by Foresters member leaders from among the Foresters member community. Richard P. Hennick was elected the new International Fraternal President and Michael C. Edge the new International Fraternal Vice President. The profiles of Foresters Board are available on the Foresters website.

Foresters Financial President, Chief Executive Officer, and Board member Jim Boyle said, "We welcome the new Board, and look forward to working together, as we continue to redefine our business. At the same time, I would like to personally thank outgoing Board members Chair Bob Lamoureux, International Fraternal President Chris Stranahan, James M. Bowden, Martha Marcon, and Frank Lochan, who have helped guide Foresters through a significant period of transformation and modernization."

The Board appointed Daniel J. Fortin as the new Chair, to lead the organization over the next four years.

Life Insurance with a Larger Purpose

Bringing a better, new normal to everyday North American families, Foresters offers a suite of unique member benefits, redefining the conventional life insurance model. Foresters benefits¹ include opportunities for scholarships, orphan benefits, community volunteer grants, Wills and other legal documents, Lifelong Learning, MemberDeals, and more.

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¹ Description of member benefits that you may receive assumes you are a Foresters member. Foresters Financial member benefits are non-contractual, subject to benefit specific eligibility requirements, definitions and limitations and may be changed or cancelled without notice or are no longer available.

About Foresters Financial

Foresters Financial is quietly redefining the life insurance and individual savings industry across the U.S., Canada and UK by enriching the lives, communities, and overall well-being of its members. Agents and members alike appreciate the turnkey-decisioned product offerings and end-to-end digitized processes that make it easy to get life insurance without traditional medical exams. State-of-the-art mobile tools help agents deliver tailored plans to prospective and current members. Unique to fraternal life insurers, Foresters offers a suite of member benefits, redefining the conventional life insurance model and bringing improved financial security and overall wellness to everyday North American families. Foresters recently merged with Canada Protection Plan to become a leading life insurance distributor in Canada. Foresters Financial is the trade name for The Independent Order of Foresters, the oldest non-denominational fraternal benefit society. For 20 straight years, The Independent Order of Foresters has received an "A" (Excellent) rating from A.M. Best.²

For information purposes only.

™Foresters Financial, Foresters, and Helping Is Who We Are are trade names and/or trademarks of The Independent Order of Foresters (a fraternal benefit society, 789 Don Mills Rd, Toronto, Canada M3C 1T9) and its subsidiaries.

Canada Protection Plan is a trademark of Canada Protection Plan Inc.

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²The A.M. Best ratings assigned on August 5, 2020 reflect overall strength and claims-paying ability of The Independent Order of Foresters (IOF). An "A" (Excellent) rating is assigned to companies that have a strong ability to meet their ongoing obligations to policyholders and have, on balance, excellent balance sheet strength, operating performance and business profile when compared to the standards established by A.M. Best Company. A.M. Best assigns ratings from A++ to F, A++ and A+ being superior ratings and A and A- being excellent ratings. In assigning the ratings for IOF, A.M. Best stated that the rating outlook is "stable", which means it is unlikely to change in the near future. See ambest.com for our latest ratings.

SOURCE The Independent Order of Foresters