ING names chief insurance risk officer for U.S. annuity biz

ING USA Annuity and Life Insurance Co. of Des Moines, Iowa. announced today that Michael Smith, 45, has been named chief financial officer and chief insurance risk officer for the U.S. annuity business. He will be responsible for financial and actuarial functions in ING’s U.S. annuities business and report to chief executive Bill Lowe. Mr. Smith begins the position May 18, and he will be based in the West Chester, Pa.-based offices. He served for more than 21 years at Lincoln National Corp. of Radnor, Pa., where he held numerous senior positions and most recently served as head of profitability and risk management for Lincoln Retirement Solutions. ING USA Annuity and Life Insurance is a division of ING Groep NV, the giant Amsterdam, Netherlands-based financial services firm.