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Presidential Life Appoints Duncan Szeto as Chief Actuary

^{Published on 2010-08-31 13:45:45 - Market Wire}
 

NYACK, N.Y.--([ BUSINESS WIRE ])--Presidential Life Corporation (Nasdaq:PLFE) named Duncan Szeto as the new Chief Actuary of its operating subsidiary, Presidential Life Insurance Company (aPresidential Lifea), effective August 18, 2010. Mr. Szeto replaces Jerrold Scher who has stepped down for personal reasons. Mr. Szeto joined Presidential Life in 2007 as Vice President, Financial Modeling.

"Ia™m confident that Duncan will further complement the work of our leadership team in executing against our three-year strategic plan, particularly in our efforts to diversify our product portfolio, along with prudently managing our investment portfolio and strengthening our balance sheet."

aDuncana™s actuarial expertise and leadership skills will be a valuable asset to the Insurance Company in 2010 and beyond,a said Donald L. Barnes, Vice Chairman of the Board, Chief Executive Officer and President of Presidential Life Corporation. aIa™m confident that Duncan will further complement the work of our leadership team in executing against our three-year strategic plan, particularly in our efforts to diversify our product portfolio, along with prudently managing our investment portfolio and strengthening our balance sheet.a

Prior to joining Presidential Life, Mr. Szeto served in various actuarial roles at MetLife, Inc., Inviva, Inc., and Prudential Financial, Inc. He also has several yearsa™ actuarial consulting and audit firm experience.

Mr. Szeto is a fellow of the Society of Actuaries and a member of the American Academy of Actuaries. He is a 1989 graduate of New York University.

About Presidential Life

Presidential Life Corporation, through its wholly owned subsidiary Presidential Life Insurance Company, is a leading provider of fixed deferred and immediate annuities, life insurance and accident & health insurance products to financial service professionals and their clients. Headquartered in Nyack, New York, the Corporation was founded in 1969 and, through the Insurance Company, markets its products in 50 states and the District of Columbia. For more information, visit our website [ www.presidentiallife.com ].