Teachers Life announced on Sept. 28 that Mark Cummings will be the company’s next president and CEO. Cummings will start his new role on Oct. 1.

"I am tremendously honoured to join Teachers Life and serve our member base," said Cummings. "The opportunity to lead a proud organization with almost 80 years of history, a track record of innovation and growth, and an incredibly talented team is very motivating."

Cummings was CEO of Cummings & Company Consulting. He previously was president and CEO of Scotia Life Insurance Company. Cummings has also held leadership roles at RBC and Canada Life.

Community and fraternal values

"I believe there is an appetite for quality life insurance in Canada that is supported by both strong business acumen and a firm commitment to community-based values," said Cummings. "Teachers Life is in a unique position to deliver on this, with its deep connection to the community and fraternal values, combined with an advanced commitment to innovation. It is truly an exciting place to be."

Cummings is replacing Doug Baker, who was president and CEO of Teachers Life since 2006.