The Hartford, an investment and insurance firm, has named Beth Bombara, the company’s senior vice president and corporate controller, to president of Life Runoff.
Bombara will succeed David Bedard and manage The Hartford’s Life Other Operations reporting segment, such as the legacy annuity business that is in runoff.
The underwriter said that Bombara will report directly to chairman, president and CEO Liam E McGee and also work with the company’s executive leadership team.
McGee said, "Beth has played an integral leadership role at The Hartford and been deeply involved in developing the company’s overall business and strategic plan."
"She also has a comprehensive understanding of the opportunities and challenges of the legacy annuity business and is well positioned to take on this critical role for the organization.
"Reducing the size and risk of this business is an important part of our overall strategic plan to focus on the property and casualty, group benefits and mutual funds businesses and deliver greater value to shareholders."
Bombara was previously spearheading corporate accounting and policy and wealth management finance, and led the company’s finance transformation program.
In April 2004, she joined The Hartford and served as vice president, managing the company’s compliance with the internal control requirements under Section 404 of the Sarbanes-Oxley Act.