Amalgamated Life Names David J. Walsh CEO

NEW YORK, Jan. 7 /PRNewswire/ -- Amalgamated Life Insurance Company today announced that David J. Walsh will succeed retiring Ronald Minikes as president and chief executive officer as of January 21.

"Ron Minikes' twelve years as CEO of Amalgamated Life Insurance Company and its family of companies have been a period of sustained profitable growth, and we have all been well served by Ron's leadership," said Bruce Raynor, chairman of the board. "I extend my thanks to him on behalf of the board of directors, and the 460,000 members of UNITE HERE who rely on the services of Amalgamated Life, for his dedicated service."

"With Ron's decision last summer to retire, the Board sought and found a successor who will further expand Amalgamated Life's products and make it the preeminent provider of insurance services to UNITE HERE and the Taft-Hartley marketplace," Raynor continued. "I am pleased that someone with Dave Walsh's experience and strategic vision has agreed to accept this challenge."

Walsh Chosen After Nationwide Search

"I'm honored to lead Amalgamated Life at this important time in its history," said Walsh. "Amalgamated Life has consistently delivered the finest results for its customers, shareholders and employees, and the company is solidly positioned for the future. I'm excited to be part of Amalgamated Life as we strive to even better serve the working people of this nation."

Prior to joining Amalgamated Life, Walsh served as executive vice president and member of the Office of the President for SBLI USA Mutual Life Insurance Company, Inc. and its family of companies. In that position he reorganized the law, operations, human resources and corporate communications departments and implemented a strategic plan of action. He also devised and led a national rollout program that changed the company's name, logo and branding of the company's flagship subsidiary. He expanded the company's authority to do business from 10 products in two states to 20 products approved in 49 states, plus the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

Previously, he served as senior vice president and general counsel for Swiss Re America and superintendent and corporate counsel for Swiss Re Life and Health. He has also served as general counsel of the Domestic Brokerage Group of AIG, and director of insurance for the State of Alaska. He has held several other positions in the insurance industry, and served as a member of the U.S. delegation to the Organization for Economic Cooperation and Development, and on the Anchorage, Alaska Assembly (City Council). Walsh earned his Juris Doctor degree from the University of Wisconsin, a master's degree in business administration from Alaska Pacific University and a bachelor's degree in psychology from Loras College.

Currently, Walsh serves on the board of the New York Council of the Boy Scouts of America and the Insurance Federation of New York. He is a member of the Board of Regents of Loras College in Dubuque, Iowa. He was adjunct professor of law at Pace University Law School from 1998 to 2004, and is a frequent public speaker.

Walsh is also a past president of the National Association of Insurance Commissioners (NAIC).

"2008 will be an important year for Amalgamated Life, UNITE HERE and our nation," Raynor said. "The Board of Amalgamated Life and the officers of UNITE HERE are committed to supporting Dave, the Amalgamated Life executive team and our dedicated employees as we provide the important products and services that the working men and women of America need to achieve their financial goals."

About Amalgamated Life Insurance Company

Amalgamated Life Insurance Company, located at 730 Broadway, New York, NY 10003, is a life and health insurer founded in 1943 to protect the financial well-being of working men and women. For 32 consecutive years, Amalgamated Life has maintained an "A" Rating (Excellent) with A.M. Best Company, America's leading rating agency for insurance companies.

Amalgamated Life is a full-service provider of insured and self-insurance employee benefit plans with $900 million in annual premiums, premium equivalencies and fee-for-service revenues. Amalgamated Life has achieved an "A" rating based on demonstrated excellence in administration, service and financial integrity.