The game of musical chairs for insurance executives has yet to slow in recent weeks. Today, a host of insurers and related businesses announced significant hiring announcements.
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The first of which, Aon Risk Solutions, the global risk management business of Aon Corp. announced the appointment of Christopher Baudouin as CEO of the Aon Global Client Network. In his new role, he assumes responsibility for the international Aon Global Client Network team.
With a team of more than 1,200 professionals, the Aon Global Client Network specializes in providing risk management advice and delivering superior service to multinational clients.
Baudouin most recently served in a dual capacity as president and CEO of Aon Risk Solutions Mexico and COO of Aon Risk Solutions in Latin America.
"Chris embodies the personal dedication and expertise of this team, and I am thrilled to appoint him to this position," says Steve McGill, chairman and CEO of Aon Risk Solutions. "His reputation for partnering with clients to manage complex global risks as well as his ability to develop international risk finance solutions sets the bar high for his team."
Additionally, Kingsway Financial Services Inc. today issued a statement saying that its current COO, William Hickey Jr., will assume the additional responsibility of CFO. Hickey will replace Daniel Brazier, a contract employee who held the post while Kingsway transitioned its executive functions from Canada to the United States. Hickey has previously held the COO and/or CFO roles at Lumbermens Mutual Casualty Co., Cochran Caronia Waller and Fox-Pitt Kelton.
"Bill is uniquely qualified to direct the financial function," says Larry Swets Jr., Kingsway's CEO. "At this stage in our turnaround efforts, Bill's leadership and experience allow us to consolidate the business operations and finance team under his guidance. We would like to thank Dan for his efforts during some of our toughest quarters and wish him the best in his future endeavors."
Elsewhere, Cincinnati Financial Corp. announced a significant transition of company leadership, and expanded responsibilities for key officers, effective May 2.
According to President and CEO Kenneth Stecher, "When our current executive team formed almost three years ago, our board of directors requested a priority on development and progression of future candidates who could broaden their experience and contributions, moving up in the normal course of business. Today's announcement confirms the success of that plan, as our board taps some of our proven executives to take on higher responsibilities. This approach assures the continuity of our values, commitments and operations, as well as our ability to keep driving strategic initiatives to improve growth and profitability."
Cincinnati Financial corporate and subsidiary officer and board leadership changes:
• Kenneth Stecher , previously president and CEO, becomes chairman of the board for Cincinnati Financial and all subsidiaries
• John Schiff Jr., CPCU, previously chairman, continues as a member of the board of directors and chairman of the executive committee for Cincinnati Financial and its insurance subsidiaries
• Steven Johnston, FCAS, MAAA, CFA, previously CFO, secretary and treasurer, is promoted to president and CEO for Cincinnati Financial. He is CEO for all subsidiaries, and president of four subsidiaries: The Cincinnati Insurance Co., The Cincinnati Indemnity Co., The Cincinnati Specialty Underwriters Insurance Co. and CSU Producer Resources Inc.
• Jacob Scherer, EVP for the insurance subsidiaries and the insurance brokerage, has expanded responsibility for oversight of Business Insurance, a new consolidation of sales and marketing, which he currently manages, with commercial lines, target markets and excess and surplus lines operations
• Teresa Cracas, previously VP and counsel, is promoted to SVP of strategic analytics and chief risk officer for all subsidiaries. She is responsible for oversight of departments that manage data modeling for financial analysis and property casualty insurance reserving and pricing, including staff underwriting and corporate actuarial.
• Lisa Love, previously senior counsel for the insurance subsidiaries, is promoted to general counsel and corporate secretary for Cincinnati Financial and all subsidiaries.
• Michael Sewell , CPA, is joining the company as CFO, SVP and treasurer for Cincinnati Financial and CFO for all subsidiaries, effective May 31, 2011.
Finally, Crump Insurance Services Inc., the property/casualty division of insurance wholesaler Crump Group Inc., announced that John Landry has joined its national property practice as SVP. Crump says the move is part of its strategic plan to increase the depth of property specialization across its nationwide network of brokers.
Landry has more than 14 years of engineering and underwriting experience, in addition to having served as a wholesale broker. He previously worked with St. Paul Cos. and USF&G, where he specialized in fire protection engineering and catastrophe risk management. In his new role, he will be focused on brokering large property accounts, including real estate and habitational risks.
"John is an outstanding addition to our business," says Crump Insurance Services President Dave Obenauer. "His technical background as an engineer and underwriter give him an exceptional understanding of these exposures."
