Executives.

Overseas Partners Names Cascio President-CEO of U.S. Operations

Overseas Partners Ltd. has named Michael J. Cascio president and chief executive officer of Overseas Partners U.S. Reinsurance Co., based in Philadelphia. Cascio is the company's chief underwriting officer. He has worked in Bermuda for 16 years, previously serving in senior executive and/or technical positions with Stockton Re, Centre Re, Pinnacle Re and KPMG.

Overseas Partners Ltd. has four reinsurance subsidiaries: Overseas Partners Re Ltd., Overseas Partners U.S. Re, Overseas Partners Cat Ltd. and Overseas Partners Assurance Ltd.

John Hancock Funds Names CFO 

John Hancock Funds, a wholly owned subsidiary of John Hancock Financial Services Inc., has named Richard A. Brown chief financial officer, treasurer and senior vice president of the company. He replaces Osbert Hood, who resigned from the firm to pursue other opportunities.

Brown has been with John Hancock since 1971. He was most recently second vice president and senior associate controller of the corporate tax department at John Hancock Financial Services Inc. There, he directed a team providing research, reporting, preparation, compliance and tax-filing services for all business groups within John Hancock.

Long Leaves Travelers to Be CEO at Project Time & Cost

Stanton F. Long, 59, a 30-year veteran of the insurance industry, has been named chief executive officer of Project Time & Cost Inc., a construction management and cost engineering firm.

A former vice chairman of Travelers Property Casualty Corp., Long served most recently as chairman of claims services for Travelers until Dec. 31. Prior to joining Travelers, he was president of American International Group Inc. Claims Services, a subsidiary of American International Group, and vice president of domestic general claims for AIG. Before his service to AIG he was president and CEO of SAIF Corp., the largest workers' compensation insurance company in Oregon. Long's early career was spent in the public sector.

Foley Becomes Chairman-CEO Of Midwest Employers Casualty

W. R. Berkley Corp. has named J. Michael Foley chairman and chief executive officer of Midwest Employers Casualty Co., a subsidiary specializing in excess workers' compensation.

Foley was a founder of Midwest Employers and had been president since 1992. His new position as chairman and CEO will afford him the opportunity to focus on other strategic opportunities for the company, Berkley said.

Succeeding Foley as president is Melodee J. Saunders, who has been in the insurance business since 1985. She joined Midwest Employers in 1991 as an actuarial pricing manager and advanced to vice president of actuarial in 1995. Her most recent position was senior vice president.

HCC Appoints Kavanaugh as CEO

HCC Insurance Holdings Inc. has appointed John L. Kavanaugh chief executive officer of the London branch of HCC's subsidiary, Houston Casualty Co. He also will be an adviser to the HCC board of directors.

Kavanaugh's career spans 39 years. He recently retired as deputy chairman of Aon UK Holdings Ltd. in London. He also had been the chairman and CEO of another HCC London-based subsidiary, which in 1985 was sold to Bain Clarkson Ltd., and then was acquired by Aon. Kavanaugh replaces Mark Donald, who resigned for personal reasons.

Masterson Index Publisher Dies

Norton "Doc" Masterson, 98, of Stevens Point, Wis., died Dec. 22. Masterson had worked in the insurance industry for more than 43 years, retiring from Sentry Insurance Co. in 1967 as a vice president.

After retiring, he operated a consulting actuary business for clients in the United States and the United Kingdom. He is known for compiling and publishing an economic index to measure property/casualty claims costs--The Masterson Index.

New York Life Promotes Walker

New York Life International, the overseas arm of New York Life Insurance Co., has named Jeff Walker to the newly created position of vice president and chief of staff.

Before joining New York Life International in June 1999, Walker worked with the Inspector General's Office at the U.S. Department of Commerce, overseeing operational performance and compliance of the department's overseas units. Before that, he served in various management oversight, marketing and operations capacities with the U.S. and Foreign Commercial Service.

Employers Re Changes Focus

In a move to refocus efforts on customers and products, Employers Reinsurance Corp. said it has appointed new leaders of its four customer groups and its global operations.

Leading the customer groups will be Rick Smith, as president and CEO of P&C Reinsurance Americas. Smith had been an officer of General Electric Co., the parent company of Employers Re. Bob Dellinger, president and CEO of GE Frankona Re, will head P&C Reinsurance Europe & Asia.

John Tiller has been named president and CEO of Global Life & Health Reinsurance. Tiller was president of Employers Re's North American life reinsurance operations. Louis Parker is now president and CEO of Commercial Insurance Operations. Parker has led several GE Financial Assurance units.

On the global front, Hoyt Wood was named global chief underwriter. Al Stanley is global operations leader. Stanley has been CEO of GE Mexico.

Robin Sterneck is now global marketing leader. Sterneck will oversee global pricing initiatives, marketing, advertising and product development.

Advantus Capital VP Retires

Richard Worthing, vice president and head of equity investments of Advantus Capital Management, has retired. Advantus Capital is an affiliate of Minnesota Life Insurance Co.

Worthing began his financial-services career in 1965 at Minnesota Life as a municipal bond analyst. He was promoted to equity portfolio manager in 1967 and to investment officer of equities in 1968. Worthing worked at St. Paul Cos. as founder and executive vice president of St. Paul Venture Capital from 1988 to 1993. Prior to forming the venture capital unit, he served as vice president of equity investments at St. Paul Fire & Marine Insurance.

Safeco Taps CNA Executive As New President and CEO

Safeco Corp. has named Mike McGavick, president and chief operating officer of CNA Financial Corp., as its new president and chief executive officer. At the same time, Boh Dickey, president, chief operating officer and member of the Safeco board, resigned effective Jan. 30.

Dickey, 56, has held a series of executive positions since he joined the company in 1982 and was a candidate for the CEO position, according to Safeco. He had been overseeing the day-to-day operations.

In August, Safeco, citing a need for a different style of leadership and disappointing quarterly earnings, said Chairman and CEO Roger H. Eigsti would retire at the end of 2000.

McGavick, who also was appointed to Safeco's board, had been leading CNA's largest operating department since 1997. The department, with $3.5 billion in annual revenues, provides the majority of CNA's commercial insurance products and is responsible for managing CNA's relationship with its independent agent distribution system.

But equity analysts weren't entirely pleased with McGavick's announcement. A report prepared by analysts at Morgan Stanley Dean Witter said that he comes from a company with many problems similar to Safeco's. "CNA results have been eerily similar to Safeco's--i.e., chronically disappointing--for similar reasons: an inward-looking culture and the inherent difficulty of turning around a property/casualty insurer."

A.M. Best Co. Names Mayewski Executive VP-Chief Rating Officer

A.M. Best Co. Chairman Arthur Snyder has announced the promotion of Larry G. Mayewski to executive vice president and chief rating officer.

Mayewski succeeds John H. (Jack) Snyder, who accepted a position as senior vice president with American Reinsurance Co.

Mayewski joined A.M. Best in 1981 as a financial analyst in the life/health division. He became a vice president in 1990, a director in 1992, a senior vice president in 1993 and group senior vice president in 1999.

Mayewski and the rating team will coordinate many of A.M. Best's ongoing initiatives, including:

* Broadening rating coverage throughout the world;

* Expanding coverage of the alternative-risk-transfer insurance market, including coverage of insurance captives, risk retention groups and risk pools;

* Expanding credit research and debt rating coverage; and

* Enhancing rating coverage in the HMO and health insurance markets.

"We have built a strong, experienced team that will continue to serve our community of rating users and companies," Arthur Snyder said.