John Hancock Financial has appointed Michael Doughty as Executive Vice President and General Manager of John Hancock Insurance, the company announced today.
This expanded role means Doughty adds responsibility for John Hancock's Long-Term Care (LTC) business to his existing role as head of John Hancock Life Insurance, which was announced in May. The appointment takes effect January 1, 2013. Mr. Doughty will continue to report to Craig Bromley, President of John Hancock Financial.
"Bringing these similar businesses under one leader makes tremendous sense. It will allow the company to take advantage of the many synergies of these businesses, and operate more effectively," Bromley says in a statement. "Mike's extensive industry experience and global mindset also make him an excellent choice to develop and implement innovative strategies to better serve our customers and grow our leadership position in the important U.S. insurance market."
Marianne Harrison, who had led long-term care for John Hancock, is now GM of Manulife Financial's Canadian division.