WASHINGTON (Oct. 28, 2020) — NAFA, the National Association for Fixed Annuities, announced Malott Nyhart, former chief marketing officer and senior vice president of Great American Insurance Group, Annuities, as the winner of its 2020 Bo Johnson Spirit Award for Lifetime Achievement. Each year, NAFA members nominate deserving colleagues and industry leaders in consideration for receiving the award, which recognizes courage, spirit and determination that challenges the status quo, inspires others to achieve, contributes unselfishly to others, and works ethically and conscientiously to improve the fixed annuity marketplace. The NAFA board of directors votes to determine the honoree.
NAFA President and CEO Chuck DiVencenzo made the announcement virtually in front of attendees participating in NAFA’s 12th annual Annuity Distribution Summit, a fully digital experience this year in light of the ongoing coronavirus pandemic. Additionally, Tony Compton and Joe Maringer, NAFA members and Great American Insurance Group executives, shared colorful stories of their time working with and for Nyhart, underscoring his commitment to connecting with, inspiring and mentoring young talent, key qualities of a true leader in the financial services and insurance space.
“Malott is one of the most respected and influential leaders we have seen in the fixed annuity industry. Not only was he passionate about educating and empowering those he worked with to help them excel in the business, he was instrumental in leading and affecting major policy initiatives on the state and federal level. Malott generously donated his time and talents by serving on NAFA’s board of directors and providing leadership among other major trades in addition to his work at Great American, constantly advocating for fixed annuities for his 30+ year career,” said Chris Conroy, chairman of NAFA’s board of directors.
Nyhart retired from Great American Insurance Group in 2016 after spending 23 years in roles including general manager, chief marketing officer and senior vice president of Great American’s Annuity Group. Prior to his time at Great American, he spent 20 years as an employee benefits consultant. Nyhart championed fixed annuity products and professionals in the regulatory and legislative spaces throughout his career, notably serving as NAFA’s chairman of the board of directors in 2008 helping the industry navigate its successful opposition to SEC Rule 151A.
“It’s a true honor to participate in recognizing Malott Nyhart as this year’s Bo Johnson Spirit Award winner,” said DiVencenzo. “His signature bow tie was fitting attire for an individual who led by and held others to such high professional standards. We’re grateful to him for embodying what it means to be humble, caring and kind, and for emboldening many other individuals in our business to follow in his footsteps as we communicate the value of fixed annuities in securing the future of retirement. There is no doubt his contributions to the industry will be long remembered.”