Printer Friendly

ORION CAPITAL CORPORATION NAMES W. MARSTON BECKER DIRECTOR, VICE CHAIRMAN AND CHAIRMAN-ELECT

NEW YORK, March 8 /PRNewswire/ -- The Board of Directors of Orion Capital Corporation (NYSE: OC) announced today that W. Marston Becker, 43, a senior Orion Capital executive, will succeed Alan R. Gruber as Chairman and Chief Executive Officer after Mr. Gruber's planned retirement on December 31, 1996. Accordingly, Mr. Becker has been elected to Orion Capital's Board of Directors and will serve in the newly created position of Vice Chairman until he becomes Chairman and Chief Executive Officer. After the transition takes place, Mr. Gruber will continue as a Director and as Chairman of Orion Capital's Executive Committee on a part-time basis.

Mr. Becker, who prior to the appointment had been Senior Vice President of Orion Capital, is also President and Chief Executive Officer of DPIC Companies, Orion Capital's professional liability insurance unit. He will continue to head that operation until a new President and Chief Executive Officer of DPIC is named later this year.

Mr. Gruber stated: "In naming Marty Becker my successor as Chairman and Chief Executive Officer, it is the Board's and my intent to provide for an orderly transition over a reasonable period of time. Orion is most fortunate to have assembled a quality, highly professional management team that provides the leadership necessary both for the operating divisions and at the corporate level. Since joining the Company in July 1994, Marty has been a key contributor on both fronts. He knows our business and the Orion culture, and, in his management of DPIC, he has demonstrated the entrepreneurial spirit and results- oriented business leadership capabilities that Orion needs for the future. Under his leadership, Orion will be able to build further upon its extraordinary record of growth and profitability, and I am delighted that the Board has selected him as my successor."

Mr. Becker stated: "I am excited about the tremendous opportunities ahead for Orion, and look forward to working with President Larry Hollen and my other colleagues in management and throughout the Company, as well as with our agents, clients and other business partners, to build upon our success to date. I also look forward to continuing to work with Alan both during and after the transition."

Mr. Becker joined Orion Capital after serving for seven years as President and Chief Executive Officer of McDonough Caperton Insurance Group, which was the third largest privately-held insurance brokerage firm in the U.S. until its acquisition by American Business Insurance in 1991. Prior to joining McDonough Caperton in 1978 as Vice President, Mr. Becker was with the public accounting firm of Ernst & Young. He earned his Juris Doctor and Bachelor of Science in Business Administration degrees from West Virginia University. He is also a Certified Public Accountant.

Orion Capital Corporation is engaged in the specialty property and casualty insurance business through wholly owned subsidiaries which include EBI Companies, DPIC Companies, Connecticut Specialty Insurance Group, SecurityRe Companies and Wm. H. McGee & Co., Inc., as well as through its 49.1% ownership interest in Guaranty National Corporation.
 -0- 3/8/96


/CONTACT: Vincent T. Papa, 212-332-8080 or Jeanne Hotchkiss, 860-674-6754, both of Orion Capital Corporation; or Dawn W. Dover of Kekst and Company, 212-593-2655/

(OC)

CO: Orion Capital Corporation ST: New York IN: INS SU: PER

HD -- NYF020 -- 1559 03/08/96 11:27 EST
COPYRIGHT 1996 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1996 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Mar 8, 1996
Words:546
Previous Article:TOSCO CORPORATION ANNOUNCES FIRST QUARTER DIVIDEND ON $0.75 PAR VALUE COMMON STOCK
Next Article:TESCORP DECLARES DIVIDEND ON PREFERRED STOCK
Topics:

Terms of use | Copyright © 2018 Farlex, Inc. | Feedback | For webmasters