Security Mutual appoints Gravely as CEO; Boyea to remain chairman

BINGHAMTON, N.Y. — Security Mutual Life Insurance Company of New York announced Thursday it has elected Kirk Gravely as the firm’s CEO, effective July 11, in addition to the company president position he already holds.

Gravely, who will also join the firm’s board of directors, succeeds Bruce W. Boyea as CEO. Boyea will continue as chairman of the Security Mutual board of directors.

Security Mutual’s leadership transition was announced by Daryl R. Forsythe, chair of the executive committee and lead director of the company. “Mr. Gravely has demonstrated unique leadership qualities since joining Security Mutual Life as president and chief operating officer in 2019 and has contributed greatly to the Company’s continued growth during the pandemic,” Forsythe said in a release. “Those leadership skills, coupled with his comprehensive background as an insurance industry executive, make him a great choice to lead the Company.” 

Gravely became Security Mutual’s president and COO on Nov. 11, 2019, and Boyea, who had held the president’s job for 23 years, continued serving as CEO and board chairman.

“I have been fortunate to work under the leadership of Bruce Boyea, with an energetic, motivated and highly competent senior leadership team and a dedicated group of officers and staff. I am especially pleased the Company will continue to benefit from Mr. Boyea’s guidance going forward,” Gravely said in the release.

Founded in 1886, Security Mutual Life Insurance Company of New York is licensed in all 50 states, as well as in the District of Columbia and the U.S. Virgin Islands.