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Meet Darryl Button
Introducing the new president and CEO of Pacific Life
Quick facts about Darryl:
Title:
President & CEO
Pacific Life Insurance Company
Career:
- Became Pacific Life’s 15th president and CEO on April 1, 2022
- Joined Pacific Life in March 2017 as executive vice president and chief financial officer (CFO)
- Spent 17 years with Aegon, most recently as CFO and a member of the Executive Board of Aegon N.V.
- Previously served as head of Aegon N.V.’s corporate financial center, CFO of Aegon’s U.S. subsidiary Transamerica, and as chairman for the company’s Canadian operations.
- Began career at Mutual Life Insurance Co. of Canada and is a fellow of the Society of Actuaries (FSA), a fellow of the Canadian Institute of Actuaries (FCIA), a member of the American Academy of Actuaries (MAAA), and a former member of the Board of Directors of the American Chamber of Commerce in the Netherlands.
“ Darryl is a proven leader who has a deep knowledge of the insurance industry and a commitment to the financial security our products provide to our policyholders. He understands the balance between strategic growth and risk management that will ensure Pacific Life’s continued success. „
Jim Morris, retired Pacific Life chairman, president & CEO
What is your longer-term focus for Pacific Life?
Customer experience will continue to be a key focus going forward. We need to continue to innovate and develop better products, get them to market faster, and provide a differentiated customer experience. We will also emphasize operational efficiency and continued digital transformation as key areas that will drive long-term growth. And we will continue to focus on risk diversification and capital strength to maintain our financial strength advantage.
You have an extensive background in the financial services industry. What from your previous experiences has helped you be successful at Pacific Life?
I’ve been fortunate to have a lot of diversity in my experiences throughout my career. From my actuarial background and as a fellow in the Society of Actuaries and Canadian Institute of Actuaries, as a member of the American Academy of Actuaries, and in my previous role as CFO for many years at both Aegon and Pacific Life, my experiences have afforded me the opportunity to deeply understand the needs of the customer and market drivers that impact our industry. Additionally, my time in Europe helped me appreciate different cultures, markets, and regulatory environments, including in a public company environment, which makes me appreciate our Mutual structure that much more.
What are your top priorities in your first 100 days as CEO?
I will continue to do a lot of listening. Meeting with senior leaders to understand their vision and where they are taking their organizations, and where they would like to see Pacific Life head as an enterprise. I will continue my outreach to our sales partners to better understand how we can better work together to meet the needs of consumers. And we will continue to execute on our business strategy. We have strong momentum within Pacific Life as we grow and transform, and I will continue to support Pacific Life’s leaders as we push hard with this transformation.
What would you say is the biggest challenge Pacific Life and others in our industry face over the next five years?
The biggest challenge is low interest rates and modernizing our delivery systems and customer experiences to make sure we can connect with customers the way they want to be connected with. Both forces require us to elevate our game on innovation and discipline, which is exactly what we are doing.
“ After a strong multi-year succession planning process, I am pleased to congratulate Darryl on his well-deserved ascension to president and CEO. With Darryl’s industry knowledge, strategic vision and stewardship, the Board is confident he is the right person at the right time to successfully lead Pacific Life. „
Mariann Byerwalter, chair, Pacific Mutual Holding Company