Standard Insurance Company (The Standard) announced the appointment of Nicola Barrett (pictured) as second vice president and actuary, actuarial governance and enterprise risk management, as part of its ongoing efforts to strengthen risk oversight and governance across the organization.
According to a news release, Barrett will oversee the development and implementation of actuarial governance frameworks and enterprise risk management strategies. Her new role focuses on integrating agile and effective governance practices at all levels within the company.
“Nicola brings a wealth of experience to this role and our team,” said Lauren Canfield, vice president, corporate actuary and chief risk officer at The Standard. “Nicola’s career spans both consulting and industry, spanning multiple products and actuarial functions including internal audit and risk transfer strategies. We’re thrilled to welcome her to this role.”
Barrett’s professional background includes roles at MassMutual, where she led forecast model development for the financial planning and pricing strategy division, as well as previous tenures at Milliman, Ernst & Young, MetLife, and Prudential. She holds a bachelor of business administration in decision sciences and a master of actuarial science from Georgia State University. She is a fellow of the Society of Actuaries and currently serves as president-elect of the Caribbean Actuarial Association.
The announcement follows the recent closure of The Standard’s $2 billion acquisition of Allstate’s employer voluntary benefits business, originally revealed in August 2024. The transaction officially closed on March 31, 2025.
The acquisition includes a strategic distribution partnership allowing select Standard products and services to reach Allstate customers. The move strengthens The Standard’s position in the competitive workplace benefits sector by expanding its portfolio and enhancing capabilities in voluntary benefits.
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