Longtime Protective Acquisitions Leader Nancy Kane to Retire, Protective Treasurer Lance Black Named as Successor

March 4, 2021 8:30 AM EST

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BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Protective Life Corporation (Protective), a wholly owned U.S. subsidiary of Dai-ichi Life Holdings, Inc. (TSE: 8750), today announced that Nancy Kane, Executive Vice President, Acquisitions and Corporate Development, has decided to retire from the company after a long and distinguished career, effective June 18, 2021. Lance Black, who joined Protective in 2003 and currently serves as Senior Vice President, Treasurer and Stable Value Products, will assume Ms. Kane’s role and responsibilities as Senior Vice President, Acquisitions and Corporate Development.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210304005315/en/

Nancy Kane, EVP, Acquisitions & Corporate Development, Protective Life Corporation (Photo: Business Wire)

Nancy Kane, EVP, Acquisitions & Corporate Development, Protective Life Corporation (Photo: Business Wire)

Throughout her career with Protective, Ms. Kane has held various responsibilities for bank and debt financing, securitization and acquisition transactions. Since she became responsible for the Company’s acquisitions business segment in 2013, Protective closed its four largest transactions, representing an estimated capital investment of approximately $4 billion. Ms. Kane joined Protective as Senior Associate Counsel in 1997. Prior to that, she was an Associate with Debevoise and Plimpton in New York, practicing in the areas of corporate and securities law.

“In Nancy’s time with Protective, the company has grown dramatically, and acquisitions have been a key driver of our success,” said Rich Bielen, Protective President & Chief Executive Officer. “Beyond the significant earnings contribution the acquisition segment represents, Nancy’s leadership has helped us reach more customers through new distribution channels and placed us in a strong position for continued growth. We appreciate her countless contributions and wish her well in retirement.”

Ms. Kane is also a distinguished leader in the community, having served on many charitable and civic boards, including the Children's Aid Society and Foundation, the Hispanic Interest Coalition of Alabama, Heart Gallery Alabama, and MOMENTUM, Building Leadership in Women, of which she is currently president.

Throughout his 18 years with Protective, Mr. Black has developed experience and expertise that will position him well for his new role, including serving as Treasurer since 2007. In 2013, he assumed responsibility for the Stable Value Products Division. In these roles, Mr. Black works closely with key external partners, including rating agencies, while leading asset/liability management for the company. Other responsibilities include capital raising and cash management for the corporate holding company and subsidiaries. He previously served as the Vice President of Investment Strategy for Protective, a role he assumed in 2003. Prior to joining Protective, Mr. Black spent more than a decade at Wachovia Corporation (now Wells Fargo).

Mr. Black is also active in the community, representing Protective on the board of the Hope Institute, of which he is Treasurer. He also serves on the boards of Young Business Leaders and Crown Ministries of North Alabama.

“Our acquisitions expertise continues to be a very important strategic capability and competitive advantage for our business, and Lance’s expertise will position him to excel in this new role,” Bielen continued. “Lance assumes leadership of our strong, cross-functional acquisitions team, and we are confident in their ability to continue advancing this important part of our business.”

Black will formally assume responsibilities upon Kane’s retirement on June 18, 2021. He will report to Bielen.

About Protective Life Corporation

Protective Life Corporation (Protective) provides financial services through the production, distribution and administration of insurance and investment products throughout the U.S. Protective traces its roots to its flagship company, Protective Life Insurance Company – founded in 1907. Throughout its more than 110-year history, Protective’s growth and success can be largely attributed to its ongoing commitment to serving people and doing the right thing – for its employees, distributors, and most importantly, its customers. Protective’s home office is located in Birmingham, Alabama, and its 3,400+ employees work across the United States. As of December 31, 2020, Protective had assets of approximately $127 billion. Protective Life Corporation is a wholly owned subsidiary of Dai-ichi Life Holdings, Inc. (TSE: 8750). For more information about Protective, please visit www.Protective.com.

Brittnie Bordonaro
brittnie.bordonaro@protective.com
(o)205.268.8611 (c)256.339.8303

Source: Protective Life Corporation



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