Harris, who has served as authorized chief for the monetary companies and insurance coverage large since October 2015, will stay with Prudential by means of the primary quarter of 2021 to help with the transition.
“On behalf of the entire leadership team, we’d like to thank Tim for his meaningful contributions to Prudential and congratulate Ann on her new role,” Prudential Chairman and CEO Charles Lowrey mentioned in a press release. “This smooth transition is a testament to the deep bench of talent and culture of internal mobility that was cultivated under Tim’s leadership.”
Kappler takes over as Prudential and plenty of different main insurance coverage suppliers are grappling with the monetary fallout from a surge in claims spurred by the Covid-19 pandemic.
In May, Prudential mentioned it anticipated to take a $200 million earnings hit this yr resulting from life insurance coverage claims and associated funding losses.
Kappler, a former Supreme Court docket clerk, has been an appellate litigation accomplice at Jenner & Block, common counsel at Fannie Mae, and a accomplice at Wilmer Cutler Pickering Hale and Dorr in Washington. There, she labored within the agency’s monetary establishments, litigation, and public insurance policies and techniques observe teams.
She joined Prudential in 2009 as chief authorized officer for a subsidiary. In her new position, Kappler will develop into a part of Prudential’s government management group and report on to Lowrey.
Harris, a proponent of accelerating range and inclusion within the authorized career, is a member of the Management Council on Authorized Variety. He joined Prudential in 1988 and over the following three many years held quite a lot of management roles on the Newark, N.J.-based firm, together with deputy common counsel and chief authorized officer for Prudential’s U.S. companies.
Bloomberg Regulation knowledge exhibits that labor and employment authorized large Seyfarth Shaw has dealt with roughly 42% of Prudential’s U.S. litigation work inside the previous 5 years. In April, Prudential turned to Debevoise & Plimpton to advise on the $1.9 billion sale of its South Korean life insurance coverage enterprise.
