PR Contact: marketing@shelterpoint.com
For Immediate Release
ShelterPoint Announces Leadership Succession
As Richard White transitions to Executive Chairman of the Board,
Leston Welsh steps up as CEO of ShelterPoint
Garden City, April 03, 2024 – Effective immediately, Richard White, who has led ShelterPoint Life Insurance Company (ShelterPoint) as CEO since 2009, is moving into the role of Executive Chairman of the Board of Directors, with the company’s existing Chairman, Dr. Seth Goldberg, remaining on the Board as a Director. Leston Welsh, who joined ShelterPoint as President last April, is now stepping into the CEO role effective the same day. This announcement follows a thorough and thoughtful succession planning process conducted by the company.
“Serving as CEO at ShelterPoint has been a great honor and my favorite chapter of my career. Having gotten to know Leston over the time we have worked together, I am pleased that we found such a talented executive to take the lead as CEO. Leston has demonstrated a strong understanding of the culture that makes ShelterPoint a great organization, and I’m confident he will lead the company to even greater success over the coming years. I’m excited to expand my role on the Board where I’ll be able to support ShelterPoint during our next chapter of growth,” said Richard White.
“I am honored by the Board’s decision. It’s a privilege to step into this role, and I look forward to ensuring a smooth transition together with our experienced management team and dedicated employees,” added Leston Welsh.
Mr. Welsh brought a wealth of leadership experience from highly respected companies in the industry when he joined ShelterPoint – including Sun Life, Unum, Prudential, New York Life, and Teachers Insurance and Annuity Association of America (TIAA). Mr. Welsh is a Fellow of the Society of Actuaries and a Member of the American Academy of Actuaries.
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About ShelterPoint
The ShelterPoint family of companies consists of its founding entity ShelterPoint Life Insurance Company (principal office in Garden City, NY) and its wholly-owned subsidiary ShelterPoint Insurance Company (a FL-domiciled carrier), depending on the state. The ShelterPoint family of companies operates under the “ShelterPoint” name strictly as a marketing name, and no legal significance is expressed or implied.
ShelterPoint specializes in statutory benefit programs in the Paid Family and Medical Leave space in a growing number of states. Since 1972, ShelterPoint’s founding entity has grown into New York’s largest1 carrier of statutory Short-Term Disability Insurance (called DBL, short for Disability Benefits Law), and has provided state-mandated Paid Family Leave2 (PFL, for short) since it became required in 2018. As a result, in NY alone, more than 196,000 employers with 2 million employees3 trust ShelterPoint to help them strike the right balance between coverage, and cost to comply with state regulations and complete their benefit equation. For more information about ShelterPoint, please visit www.shelterpoint.com.
1State of New York Workers’ Compensation Board, form DB-680, 2016 – applies to ShelterPoint Life Insurance Company only.
2Applies to ShelterPoint Life Insurance Company only.
3Based upon ShelterPoint Life Insurance Company DBL/PFL policyholder and certificate holder count as of 12/31/23 – applies to ShelterPoint Life Insurance Company only.
This press release contains forward-looking statements and information – that is, statements related to future, not past, events. Such statements are based on the current expectations and certain assumptions of the management of ShelterPoint, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond their control, affect their operations, performance, business strategy and results and could cause the actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Risks may include, but are not limited to uncertainties in connection with: disposing of business activities, certain strategic reorientation measures; the performance of its equity interests and strategic alliances; the challenge of integrating major acquisitions, implementing joint ventures and other significant portfolio measures; the introduction of competing products or technologies by other companies or market entries by new competitors; changing competitive dynamics; the risk that new products or services will not be accepted by customers targeted by ShelterPoint and its subsidiaries; changes in business strategy; its relationships with governmental bodies and customers; developments in the health care market, legislation, and regulation; changes to the independent insurance broker/agent industry; approvals of the New York State Insurance Department and Insurance Departments of other states; and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. ShelterPoint neither intends to, nor assumes any obligation to, update or revise these forward-looking statements in light of developments which differ from those anticipated.
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