Novato, Calif. - Joseph Beneducci tendered his resignation today as chief executive officer at Fireman's Fund Insurance Co., Novato, Calif.
Susan Murdy, media relations representative for Fireman's Fund, confirmed that Beneducci took his leave as of today, and had no immediate information as to his next post.
"It was a surprise," she told INN. Effective immediately, Chuck Kavitsky, president of Allianz of America and former Fireman's Fund chief executive, will take the helm as interim CEO. "Joe has been a significant part of Fireman's Fund's success and I want to thank him for his many contributions," said Kavitsky. "Our direction and strategy will continue as planned." Kavitsky served as chief executive of Fireman's Fund from 2004 to 2006 before his promotion to president of Allianz of America (AZOA) in January. A successor to Beneducci will be named in due course, reports the company. As of December 31, 2006, Fireman's Fund had assets of $11.9 billion, reports the company, with $3.0 billion in policyholder surplus. The company's gross written premiums have grown from just over $3 billion in 1992 to $5.7 billion in 2006. Source: Fireman's Fund
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