Pan-American Life Insurance Group announced changes to its executive team with the upcoming retirement of Stephen Batza, president of its U.S. Life unit and president and CEO of Mutual Trust Life Insurance Co.

Batza will remain on the board of directors of New Orleans-based Pan-American, which provides insurance and financial services throughout the Americas.

The company said Bruce Parker, its president of International Life, will be president of the newly consolidated Global Life business unit and serve as chief executive officer of Mutual Trust Life Insurance Co.

Geri Gaughan was promoted to president and chief operating officer of Mutual Trust Life Insurance Co., where she has been senior vice president and general counsel.

Batza became president and CEO of Mutual Trust in 2007 and joined Pan-American Life with the 2015 merger of the two mutual holding companies. Batza maintained his title with Mutual Trust and led Pan-American’s individual business in the United States as president of U.S. Life.

“We are very supportive of Steve’s decision and are pleased that he will remain on our board,” said José S. Suquet, chairman of the board, president and CEO of Pan-American Life Insurance Group. “Steve led the Mutual Trust organization through a difficult period and made the bold choice to move forward with our merger. What he has done to set up our Life business in the United States for current and future success is truly invaluable.”

Parker has been a member of Pan-American Life’s executive management team since joining the company in 2009. He has led all of Pan-American Life’s individual life and personal accident insurance business in Latin America and the Caribbean. In addition, as chairman of Pan-American International Insurance Corp. and Pan-American Assurance Company International Inc., he oversees the group’s private client life businesses.

Prior to joining Mutual Trust in 2005, Gaughan was senior vice president and deputy general counsel for life and group operations at CNA Financial Corp. in Chicago. 

“The appointments of Bruce Parker and Geri Gaughan to senior positions in our Global Life Organization are a recognition of the contributions they have made to our business and their strong leadership qualities,” Suquet said.