Ullico board of directors approves leadership changes following passing of Ed Smith

Washington, D.C. — Ullico Inc., the only Labor-owned insurance and investment company, has announced changes to its board of directors and management team. The changes are in keeping with the company’s strategic succession plan following the untimely passing of CEO and Chairman of the Board Edward M. Smith.

• Terry O’Sullivan is named Chairman of the Board. O’Sullivan is the general president emeritus of the Laborers’ International Union of North America, and the longest tenured director on Ullico’s board, at 24 years. He previously served as chairman from 2003 to 2006.

A nationally renowned union leader, O’Sullivan has dedicated his life to fighting for American workers. He is a vocal advocate of the power of Labor’s capital and understands the essential role Ullico plays in the American Labor Movement.

• Brian J. Hale is named Chief Executive Officer. The Board of Directors elected current President Brian Hale as the company’s CEO, effective immediately. Hale joined Ullico in 2008. From 2014 to 2023, he served as senior vice president and chief operating officer, with responsibility for the day-to-day operations of the company.

In 2023, Hale was named president and chief operating officer. He will continue in his role as president. Hales comes from a union family and is a proud third-generation union member from Tennessee.

“Ullico mourns the loss of Ed Smith, a great leader and visionary. Thankfully, the company is in good hands,” Sullivan said. “Our new CEO, Brian Hale, offers a unique combination of deep Labor roots, MBA credentials and years of senior executive leadership experience at Ullico. The board is confident that the company’s management team will continue Smith’s legacy as a champion of the American Labor Movement.”

“We will navigate this period of change with resilience and unity,” said Hale. “The board and I are dedicated to carrying out Ed Smith’s commitment that Ullico must serve the needs of working men and women while maintaining a successful business model on behalf of our shareholders.”

ABOUT ULLICO
The Ullico Inc. family of companies provides insurance and investment solutions for Labor organizations, union employers, institutional investors and union members. Founded 95 years ago, the company takes a proactive approach to anticipating Labor’s needs, developing innovative financial and risk solutions and delivering value to our clients. Ullico’s products are tailored to promote financial security and stability for American workers.

The Ullico Inc. family of companies includes The Union Labor Life Insurance Company; Ullico Casualty Group, LLC.; Ullico Investment Company, LLC.; and Ullico Investment Advisors, Inc. For additional information, visit www.ullico.com.