Board of Directors

Richard Hemmings, Executive Chairman

Richard Hemmings

Richard Hemmings holds the position of Executive Chairman of Fidelity Life Association. Prior to his appointment to that office in 2014, he was Chairman and CEO of the company from 2005 to 2014.

Prior to joining Fidelity Life, he was a partner in the Chicago law firm of Lord, Bissell and Brook for 25 years. He also served as counsel to the NAIC and was the Michigan Insurance Commissioner before entering private law practice in 1980. In addition to his duties as Executive Chairman of the Board of Fidelity Life Association, Mr. Hemmings is a member of the Board of Directors for First MetLife Investors Insurance Co., a New York affiliate of MetLife that does not compete with Fidelity Life Association.

Linda Walker Bynoe, Director

Linda Walker Bynoe

Linda Walker Bynoe is President and CEO of Telemat Ltd., Chicago, Illinois, a project management and consulting firm, since 1995, and previously as Chief Operating Officer since 1989.

Ms. Bynoe began her career in public accounting, obtaining her Certified Public Accountant (CPA) designation. After obtaining her Masters in Business Administration (MBA), she joined the investment banking firm Morgan Stanley, serving in various executive capacities within the Capital Markets Division and as a Vice President from 1985 until 1989.

She is also a Director of Anixter (NYSE:AXE), Equity Residential (NYSE:EQR), Northern Trust Corporation (NASDAQ:NTRS) and Prudential Retail Mutual Funds. Ms. Bynoe has served on the Fidelity Life Association Board of Directors since 2002.

Ms. Bynoe is a graduate of Northeastern University and holds an MBA from Harvard University.

John A. Fibiger, Director

John A. Fibiger

Mr. Fibiger was elected to the Fidelity Life Board in 2004. He previously was an executive of Transamerica Life Companies servicing as Executive Vice President and Chief Financial Officer from 1991-1993, President from 1994-1995 and Board Chairman from 1995-1997. From 1981 to 1989, Mr. Fibiger was President of the New England Mutual Life Insurance Company. Previously he also held various offices with New England Life and Bankers Life Insurance Company of Nebraska. Mr. Fibiger is a Fellow of the Society of Actuaries and member of the American Academy of Actuaries for which he was President from 1987 to 1988.

He served as a trustee of the Menninger Foundation, Houston, TX (formerly located in Topeka, KS) and was Chairman of the Menninger Fund. He is currently a trustee of the Austin Symphony Orchestra and a life trustee of the Museum of Science in Boston.

Steven Groot, Director

Steven Groot

Mr. Groot was first elected to the Board of Fidelity Life Association in 2006. He is an actuary and attorney who served in various actuarial and management capacities with Allstate Insurance Company from 1970 through 2002.

During his career, he led activities in nonstandard auto insurance, Internet and call center distribution and servicing, and international operations. He served on Allstate Insurance Company's Board of Directors from 1994 through 2002, where he was a member of the executive committee and investment committee.

Mr. Groot is a Fellow of the Casualty Actuarial Society, a Member of the American Academy of Actuaries, and a member of the state bar of California. He currently serves as a member of the Board of Directors of CEM Insurance Company, a privately held property and casualty insurer, and is a life trustee of Lawrence Hall Youth Services in Chicago, Illinois.

James E. Hohmann, Director

James E. Hohmann

Mr. Hohmann is CEO and President of Members Mutual Holding Company, the parent of Fidelity Life Association. He is also a member of the Fidelity Life Board of Directors and is accountable for the overall performance of all affiliated companies.

He began his career as a life insurance actuary at a stock life insurance company. From there he went into consulting, first with Peat Marwick (now KPMG) and then Tillinghast, Towers Perrin (now Towers Watson), where he was Managing Principal of the Chicago life office.

After consulting, Mr. Hohmann returned to the company side of the life insurance industry and over the past 15 years has primarily served in the role of company president or CEO, including President of Conseco (now CNO Financial) and President and CEO of Allstate Financial.

Most recently, Mr. Hohmann was President and CEO of FBL Financial. In that role he delivered industry leading stock performance and the company was recognized by Fortune magazine in its list of the “100 Fastest Growing Companies” based on growth in revenue, earnings per share and total return to shareholders.

Mr. Hohmann is a graduate of Northwestern University and holds a MBA from the University of Chicago.

James W. Schacht, Director

James W. Schacht

As President of the Schacht Group, Mr. Schacht advises national and international clients on regulation, restructuring and insolvency, litigation and public policy issues. Prior to forming his own firm, he led Navigant Consulting’s Restructuring, Run-off and Insolvency Practice. He also led the insurance regulatory practices at both Coopers and Lybrand and PricewaterhouseCoopers and was Director of the Illinois Department of Insurance on three occasions at the request of two governors.

For more than 25 years, Mr. Schacht has been an active leader within the National Association of Insurance Commissioners serving on numerous task forces and committees. Several of his reform initiatives garnered national attention, particularly the development of the NAIC’s Insurance Regulatory Information System, the development of the first NAIC Handbooks on Statutory Accounting Practices and Procedures, Risk Based Capital, the Financial Regulation Standards and Accreditation Program and numerous model laws and regulations. He organized and conducted the first meetings of international insurance regulators that led to the formation of the IAIS.

Mr. Schacht frequently writes on emerging issues and is an oft-requested speaker. He and his colleagues have prepared numerous groundbreaking public policy studies on insurance regulation for the National Conference of Insurance Legislators and other industry trade associations.

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