Talcott Financial Group announces new executive chairman

Talcott Financial Group, which partners with insurers on comprehensive risk solutions, has appointed Michael Smith as executive chairman, effective immediately.

“We are pleased to welcome Mike as the newest addition to Talcott’s already deep leadership team as we continue to provide flexible solutions at scale for the world’s leading insurance companies,” said Michael Muscolino, co-founder and partner at Sixth Street. “Mike is a seasoned industry operator with extensive knowledge of the insurance landscape.”

Smith brings 38 years of experience in the insurance industry. Most recently, he served as the vice chair and chief financial officer of Voya Financial.

“I am thrilled to be joining Talcott Financial Group and look forward to working with Talcott’s leadership team as well as the broader Sixth Street Insurance platform,” said Smith. “We are well-positioned to accelerate Talcott’s growth with the foundation of a strong financial position, talented team, award-winning culture, focus on policyholder protection, and a proven track record of executing value-add transactions.”

Prior to joining Talcott, Smith served almost 14 years at Voya in various roles, including chief risk officer and head of the insurance solutions and annuity manufacturing businesses. Prior to his time at Voya, Smith spent over 20 years at Lincoln Financial, where he held multiple senior executive roles in actuarial, finance, operations and risk management.