Kirk R. Gravely Elected President and Chief Operating Officer of Security Mutual Life; Bruce W. Boyea to Continue as Chairman and Chief Executive Officer

(Binghamton, NY  •  October 21, 2019) Following its October meeting, Security Mutual Life’s Board of Directors announced the election of Kirk R. Gravely, ASA, MAAA®, as President and Chief Operating Officer of the Company, effective November 11, 2019. Bruce W. Boyea, who has served as President for 23 years, will continue serving as Chairman of the Board and Chief Executive Officer.

Mr. Gravely is a highly experienced, successful and well-regarded actuary and business leader, who has most recently been serving as President of Allen Bailey & Associates, Inc., the respected actuarial consulting firm based in Austin, Texas. Designated as a Qualified Actuary by the New York State Department of Financial Services, Mr. Gravely has performed insurance company examinations for New York and other state insurance departments, as well as provided actuarial consulting and financial analysis services to numerous insurance companies throughout the country.

“Kirk is a people- and customer-centered executive with a strong history of creating highly engaged teams and has extensive experience in a variety of areas important to the Company,” said Boyea. “He is an excellent addition to Security Mutual’s executive team at this time as we build on the past success of the Company and implement strategies for an even more successful future for our policyholders, our employees, our field associates and the many people whose lives we touch as The Company That Cares®.”