Mark Cummings, former president and CEO of Scotia Life Insurance Co., will replace Doug Baker as president and CEO of Toronto-based Teachers Life Insurance Society (Fraternal) following Baker’s retirement from his position on Sept. 30, Teachers Life announced on Wednesday.
Baker has been president and CEO of Teachers Life since April 2006 and had served on the organization’s board of directors for 17 years prior to his appointment.
Cummings, who was with Scotia Life from 2006 to 2015, most recently as president and CEO, will succeed Baker as president and CEO on Oct. 1, 2017.
During Baker’s tenure at Teachers Life, he has led an effort to modernize the organization’s technological capabilities. That has included the launch of an online life insurance sales platform, which has become Teachers Life’s primary distribution channel for individual life insurance products.
Under Baker’s leadership, Teachers Life also made the transition from a provincial to a federal incorporation under the Office of the Superintendent of Financial Institutions. It;s now licensed in every jurisdiction in Canada.
“I would like to acknowledge Doug Baker for his brilliance and his long-lasting contribution to Teachers Life,” says Randy McGlynn, chairman of Teachers Life’s board, in a statement.
Baker has been actively involved in the insurance industry during his career, including having held positions as president of the Canadian Fraternal Association, chairman of the Life Insurers Council (part of LOMA) and board member at the Canadian Life and Health Insurance Association Inc. (CLHIA). He is currently on the board of the American Fraternal Alliance and is a member of the government relations committee at CLHIA.
“It has been my pleasure to be a part of Teachers Life’s transformation over the past 11 years,” says Baker in a statement. “We have built strong and lasting partnerships to help Teachers Life grow and prosper.”
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