CNA Financial announced the retirement of Peter Wilson, president and COO of CNA Specialty, a $2.9 billion business unit.

Succeeding Wilson is Mark Herman, who has more than 25 years in the industry. Wilson’s retirement is effective Dec. 31, 2012.

As part of CNA’s specialty business since 1992, Wilson assisted in the company’s development in professional and management liability markets.

“Pete Wilson led some of CNA’s most successful businesses,” said Thomas Motamed, chairman and CEO. “Throughout his career, he brought to CNA a sharp focus on the customer, distinctive products and services, and strong producer relationships. This legacy will continue to serve us well. We thank him for his many contributions.”

Herman has served in leadership roles at Chubb & Son, ACE and Ariel Holdings. Most recently, Herman served as CEO at Everest National Insurance Company. Herman will join CNA, effective Jan. 1, 2013, working out of CNA’s corporate headquarters in Chicago.

“We have concluded that the leadership of CNA Specialty is a Chicago-based position,” said Motamed. “After much discussion, Pete, who has deep roots in the East, decided to retire and pursue other East Coast-based opportunities.”

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