Executives.Travelers Appoints New CEOs Jerry Shroat has been named chief executive officer of Travelers Property Casualty's personal lines. Shroat, formerly the head of strategic distribution for the company, succeeds Bob Khanna, who resigned in March to take a position with MMC See MultiMediaCard and Microsoft Management Console. Enterprise Risk Inc. Shroat joined Travelers in March 1999 after serving as president of the personal lines division of Great American Insurance. Before that, he worked for Progressive for 18 years. Travelers Insurance has appointed George C. Kokulis president and chief executive officer of Travelers Life & Annuity. He succeeds J. Eric Daniels, who has accepted a position with Zona Financiera.com. Kokulis has worked at Travelers since 1982, most recently as executive vice president. Axa Re Life Appoints President Axa Re Life Insurance Co., a member of the Axa Re Group, has appointed Michael W. Pado president. He succeeds Robert Lipincott, who was named chairman of Axa Re Life. ING 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. Names Johnson Chief Underwriter ING Reinsurance, Denver, has named Nate Johnson vice president and chief underwriter. Johnson joined the company in 1997. Unitrin Appoints Royster President of United Insurance United Insurance Company of America, a subsidiary of Unitrin Inc., has appointed Don M. Royster Sr. president and elected him to the United board. Previously, Royster was president of United's career-agency division. He was named president of the career-agency division in August 1999. PartnerRe CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Wants to Retire Partner Re Ltd., Pembroke, Bermuda, is looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. a new chief executive officer to replace Herbert N. Haag, who wants to retire. Haag joined the company in 1993 after working at 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. for 26 years. PHS (Personal Handyphone System) A TDMA-based cellular phone system introduced in Japan in mid-1995. Operating in the 1880-1930 MHz band, PHS uses microcells that cover an area only 100 to 500 meters in diameter, resulting in lower equipment costs but requiring more base Health Names President PHS Health Plans, Shelton, Conn., has named Barry Averill president. Averill has been with Humana Inc. since 1991, most recently as regional vice president for the central region. Aegon USA Chairman Retires Frank C. Herringer has retired as chairman of Aegon USA and also will step down from Aegon NV's executive board later this year. Herringer was chairman and chief executive officer of Transamerica Corp. when Aegon acquired Transamerica in July 1999. After the acquisition, he was responsible for the noninsurance-related assets of Transamerica, which Aegon has decided to sell. Scottish Annuity & Life Appoints President Scottish Annuity & Life Holdings Ltd., Georgetown, Cayman Islands Cayman Islands (kā`mən), British dependency (2005 est. pop. 44,300), 100 sq mi (259 sq km), comprising three islands in the West Indies. , has appointed Scott E. Willkomm president. He succeeds Michael C. French, who will continue as chief executive officer and will become chairman of the board. Willkomm was most recently managing director and head of the insurance investment banking group at Prudential Securities Inc. Lloyd's Group Hires CEO The Association of Lloyd's Members has appointed Anthony Young Anthony Young could be
XL Capital Appoints Stevens President and COO Bermuda-based XL Capital Ltd. has appointed David C. Stevens 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. of newly formed XL Capital Assurance Inc., a New York-domiciled financial guaranty As a verb, to agree to be responsible for the payment of another's debt or the performance of another's duty, liability, or obligation if that person does not perform as he or she is legally obligated to do; to assume the responsibility of a guarantor; to warrant. insurer. Stevens was formerly executive vice president and chief underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. officer of XL Capital Products Ltd. Kelly Succeeds Countryman at Liberty Mutual Edmund F. Kelly, president and chief executive officer, Liberty Mutual Insurance Co., has been named to replace Chairman Gary Countryman, who is retiring. Countryman was named Liberty Mutual's chief executive officer in 1986 and became chairman and chief executive officer in 1992. He continued as chairman after Kelly was elected chief executive officer in 1998. Kelly joined Liberty Mutual in 1992 as president and chief operating officer after spending 18 years with Aetna Life and Casualty Co. |
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