Executives.

MassMutual Appoints CFO 

Massachusetts Mutual Life Insurance Co., Springfield, Mass., has named Howard E. Gunton senior vice president and chief financial officer. Gunton who was previously senior vice president and CFO of American International Group Life Cos. (U.S.), succeeds Daniel J. Fitzgerald, who is retiring.

Also, Robert Crispin was named executive vice president. He was formerly executive vice president of UnumProvident Corp.'s distribution and international operations and replaces John Davies, who is retiring.

In his new role, Crispin will be responsible for the overall strategic direction and growth of the individual life business, including disability income.

GIO Australia Chief Quits; Top Managers Ousted

In a surprise move, the head of the embattled GIO Australia Holdings Ltd. has resigned. Peter Corrigan, who took over as chief executive officer for the Sydney-based insurer a year ago, has overseen a year of disastrous reinsurance losses for the company. In total, GIO announced losses of around A$1 billion (about U.S.$656.2 million) in the past year and said it would exit the reinsurance business.

AMP, which won a hostile takeover bid for GIO a year ago, bought out the remaining minority shareholders in December.

Gavin Pearce, relatively unknown outside AMP, has been promoted to managing director of AMP/GIO general insurance. He will have responsibility for AMP's general insurance business in Australia, New Zealand and the United Kingdom. Pearce was previously general manager of AMP General Insurance.

Meanwhile, AMP's integration of GIO's operations has begun in earnest, with a purge of GIO senior managers, including Martin Spry, Chris O'Hehir, John Hassett and Ralph Hurlbutt.

NYMagic Names New CEO 

Robert W. Bailey, recently elected chief executive officer at NYMagic Inc., said he is looking forward to taking advantage of an improved marine and aviation insurance market.

Bailey is replacing former CEO Vincent Papa, who left the New York-based company in July after four months in the post. "There was a disagreement about the future of the company," Bailey said, "and he exercised his option to leave."

Bailey joined the NYMagic board last June and was appointed chairman in July. He will continue to serve the company as both board chairman and chief executive officer.

Before joining NYMagic, Bailey was senior vice president of Aon Reinsurance Inc., a subsidiary of Aon Group.

NYMagic is a holding company for New York Marine & General Insurance Co. and Gotham Insurance Co.

Arrowhead Hires Rohde

Richard Rohde has joined the Arrowhead Group of Cos. as president and CEO of the ArrowSource division. His initial focus will be on developing existing products and technologies and expanding the Internet platform for the San Diego-based company.

Rohde, a 30-year insurance industry veteran, was formerly principal shareholder of the San Diego based Barney & Barney LLC Insurance Brokers.

Kenesey to Explore Global Expansion

Timothy Kenesey has been named global business development leader for Employers Reinsurance Corp., Overland Park, Kan. In that capacity he will lead the company's global business development initiatives, including mergers, acquisitions, joint ventures and alliances.

Kenesey, an attorney and certified public accountant, previously managed global business development for GE Medical Systems in Milwaukee. Employers Re, a GE Capital Services company, has 40 offices worldwide.

Employers Re also announced the following promotions:

* Scott Crockett, to vice president for the company's healthcare division and manager of the healthcare claims department.

* Thomas Powers, to vice president--investments. As chief investment officer, he is responsible for investment assets for the company's North American region.

* Robert Hitt, to second vice president, information technology. He will be responsible for global e-commerce initiatves.

* Howard Sacarob, to second vice president, director of business and product development for Employers Re's financial-market products.

* Patrick Wageman, to second vice president, corporate tax. He is responsible for tax matters relating to business development and acquisitions of ERC's North American region.