NEW YORK -- Primerica Corp. announced a top-level realignment that elevates Robert I. Lipp from the chief executive post at its Commercial Credit Co. subsidiary.

Mr. Lipp, a Primerica vice chairman and onetime president of Chemical Bank, was named group chief executive responsible for consumer finance operations, including Commercial Credit, Gulf Insurance Co., and Primerica's relationship with Travelers Corp.

Robert B. Willumstad, president of Commercial Credit, succeeds Mr. Lipp as chairman and chief executive. Marge Magner, executive vice president, was promoted to president and chief administrative officer of the unit.

Frank G. Zarb, also a Primerica vice chairman, became group chief executive overseeing several insurance and investment subsidiaries and a member of the Travelers operating committee.

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