Eight Industry Veterans Bring Energy and Entreprenurial Spirit to Argonaut Insurance Company.Business Editors STAMFORD, Conn.--(BUSINESS WIRE)--Oct. 9, 2002 Argonaut Insurance Company (Argonaut), a member of the Argonaut Group, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AGII), announced the hiring of eight veteran insurance executives over the past few months to play key roles in the company's growth. The expanded executive team is charged with the expansion and re-establishment of the Argonaut brand as a premier provider of solutions and services designed to reduce the workers' compensation workers' compensation, payment by employers for some part of the cost of injuries, or in some cases of occupational diseases, received by employees in the course of their work. and companion line costs of the insured. "We have created an executive team of impact players who bring energy, exceptional leadership qualities and an intense customer focus to our company," commented John Gantz, president of Argonaut Insurance Company. "These dynamic, insurance veterans will provide the flexibility we need to leverage our market position and expertise on a national scale." H. Clay Bassett, Jr., joins Argonaut as chief underwriting officer. Most recently, he served as senior vice president and deputy head of the direct reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. operations of Swiss Reinsurance Company (Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. ) in the U.S. He was also head of the regional segment and all facultative business for the company. Prior to Swiss Re, Bassett held various management positions with AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group Risk Management. Jay J. Chase joins Argonaut as vice president of programs. Most recently, Chase served as executive vice president for the Kemper Employers Group The Employers Group is a nonprofit association of employers based in Los Angeles, California. Founded in 1893 as the Merchants Association, the organization's initial goal was to secure the open shop in all workplaces in the city. of Kemper Insurance Companies. Prior to that he served in a variety of management roles with TIG n. 1. A game among children. See Tag. 2. A capacious, flat-bottomed drinking cup, generally with four handles, formerly used for passing around the table at convivial entertainment. Holdings, formerly Transamerica Insurance Group, including the areas of managed compensation, captive insurance Captive insurance companies are limited purpose insurance companies established with the specific objective of financing risks emanating from their parent group or groups, they sometimes also insure risks of the parent company's customers. and commercial field operations. John Gribbin John R. Gribbin (b. 1946) is a British science writer and a visiting Fellow in astronomy at the University of Sussex. Biography John Gribbin graduated with a degree in physics from the University of Sussex In 1966. joins Argonaut as resident vice president responsible for supporting the field on major account opportunities. Gribbin becomes a part of the team after 28 years experience in insurance company operations with Reliance Insurance Company. Most recently, he was senior vice president and leader of the large account division for Reliance. He also served the company as chief underwriting officer and regional vice president. Roger Greiner joins Argonaut as president of Aegean Managers, Inc. Aegean Managers focuses its marketing and underwriting efforts toward alternative risk transfer (ART) group programs produced through traditional and nontraditional distribution channels. Prior to joining Argonaut, Greiner was with General Reinsurance Corporation for more than 20 years, most recently serving as president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Genesis Underwriting Management Company, Genesis Insurance Company, and Genesis Indemnity Insurance indemnity insurance Managed care A type of health insurance in which a Pt can choose the hospital and provider, and the insurer reimburses the Pt or provider for a set percentage of the cost, minus deductibles and co-payments Company. He also served General Re as vice president and in other management roles during his tenure. Greiner brings more than 36 years of industry experience to the company. Charles Weaver joins the company as senior vice president of claims. In addition to his role with Argonaut, Weaver has responsibility for claims for all Argonaut Group member companies. Before joining Argonaut, he was senior vice president of the insurance services division of Cambridge Integrated Services In computer networking, IntServ or integrated services is an architecture that specifies the elements to guarantee quality of service (QoS) on networks. IntServ can for example be used to allow video and sound to reach the receiver without interruption. Group, a subsidiary of Aon. Prior to that, he served in a variety of management roles with Reliance Insurance Company, most recently as vice president of claims. Weaver also spent more than 18 years with Wausau Insurance in a number of roles. Kate Westover joins the Argonaut team in her role as president of Captive Advisory Services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal . Westover brings more than fifteen years expertise in the captive insurance industry; with proficiency in both property/casualty and employee benefit program captives. Prior to joining Argonaut, she was chief operating officer of Strategic Risk Solutions Vermont, a captive management subsidiary of Strategic Risk Solutions (SRS SRS, SRS-A see slow-reacting substance. ), a Credit Suisse The Credit Suisse Group (SWX:CSGN, NYSE: CS) is a financial services company, headquartered in Zürich, Switzerland. It is the second-largest Swiss bank, behind UBS AG. Group company and has served as President of American Risk Management, now part of Aon. She is a recognized author on captives and recently was recognized with an achievement award by the Vermont Captive Insurance Association. Teri L. Blauer joins the company as vice president of workers' compensation claims with more than 25 years of industry experience, specializing in workers' compensation. Her experience includes regional vice president of claims for Travelers Property and Casualty in the Southern region and national workers' compensation vice president with AIG. She also served as director of the compensability unit for SAIF Corporation. Mary Borba joins the company as vice president of human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. . Borba comes to Argonaut after serving at Marsh USA, where she was managing director of human resources for North American Operations North American operation Surgical oncology Radical surgery of a 'frozen pelvis', consisting of radical en bloc resection of the uterus and urinary bladder. See 'Frozen pelvis.'. Cf 'All-American' and 'South American' operations. . Prior to that, she held the position of senior vice president, human resources for Swiss Re and a senior human resource management position with Bristol-Myers Squibb Company. "As we grow and mature into one of the nation's leading providers of solutions and services in the upper and middle commercial market, our operations and our insureds will benefit from this seasoned and successful team," added Gantz. "Companies that are committed to proactive claims management and loss control will be excited about the opportunity to work with this team." About Argonaut Insurance Company A member of the Argonaut Group, Inc., Argonaut Insurance Company provides a full line of individually designed, loss sensitive programs for large, well-managed companies with whom it can establish partnerships. The partnerships support the insured with customized safety management services and training programs backed by proactive claims management services designed to reduce the costs to the insured. While workers' compensation is the primary line written by Argonaut, the company's offering includes companion lines for commercial auto and general liability insurance as well. Argonaut has decades of experience and a strong reputation for providing large accounts such as construction companies, manufacturing companies, retail institutions, high-tech firms and the hospitality industry with outcome driven programs that yield better results. Headquartered in Menlo Park, Calif., the company has executive offices in Stamford, Conn., and regional offices across the country. About Argonaut Group, Inc. Headquartered in San Antonio, Texas “San Antonio” redirects here. For other uses, see San Antonio (disambiguation). San Antonio is the second most populous city in Texas, the third most populous metropolitan area in Texas, and is the seventh most populous city in the United States. As of the 2006 U.S. , Argonaut Group, Inc. (NASDAQ: AGII) is a national underwriter of specialty insurance products in niche areas of the property & casualty market. Through its operating subsidiaries, Argonaut Group offers high quality customer service in programs tailored to the needs of its customers' business and risk management strategies. Collectively, Colony Insurance, The Rockwood Group, Argonaut Insurance Company, Argonaut Great Central, and Trident Insurance Services underwrite a full line of products in four primary areas: excess and surplus, specialty commercial, specialty workers' compensation, and public entity. Information on Argonaut Group and its subsidiaries is available at www.argonautgroup.com FORWARD-LOOKING STATEMENTS DISCLOSURE This news release contains "forward-looking statements" which are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. The forward-looking statements are based on the Company's current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that actual developments will be those anticipated by the Company. Actual results may differ materially from those projected as a result of significant risks and uncertainties, including non-receipt of the expected payments, changes in interest rates, effect of the performance of financial markets on investment income and fair values of investments, development of claims and the effect on loss reserves, accuracy in projecting loss reserves, the impact of competition and pricing environments, changes in the demand for the Company's products, the effect of general economic conditions, adverse state and federal legislation and regulations, developments relating to existing agreements, heightened competition, changes in pricing environments, and changes in asset valuations. For a more detailed discussion of risks and uncertainties, see the Company's public filings made with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward looking statements. |
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