State Auto COO to retire
18 January 2011 - 2:00AM
Business Wire
State Auto Financial Corporation (NASDAQ:STFC) and State
Automobile Mutual Insurance Company today announced the retirement
of Executive Vice President and Chief Operating Officer Mark A.
Blackburn. He is no longer serving as chief operating officer and
has resigned as a director of State Automobile Mutual, and will
serve in an advisory role until his November 2011 retirement.
Blackburn joined State Auto in 1999 to lead the companies’
reinsurance operation after holding executive-level positions with
Grange Mutual Casualty Group and General Reinsurance Corporation.
He was appointed chief operating officer in 2006.
Rather than appoint a new chief operating officer, the executive
leadership team reporting to President, Chairman and CEO Bob
Restrepo has been restructured to broaden their
responsibilities.
“We’ve built a flatter, leaner management structure,” said
Restrepo, “to build on our strategic foundation of people and
technology and implement our business strategies focused on
underwriting profitability, rational growth, enterprise risk
management and capital management.”
- Vice President and Chief Financial
Officer Steven E. English will assume responsibility for
enterprise risk management, business continuity and oversight of
Risk Evaluation and Design LLC, State Auto’s affiliate in the
alternative risk transfer market. In his broadened role, English
will work to successfully develop strategies and integrated action
plans to improve State Auto’s enterprise risk and capital
management programs.
- Senior Vice President and Chief
Sales Officer Clyde H. Fitch will assume responsibility for
middle market sales and Capital City Intermediaries, State Auto’s
new managing general agency that will market products and programs
of the Rockhill Insurance Group to State Auto’s independent agency
plant.
- Vice President of Standard Lines
Joel E. Brown, previously Vice President, Director of Personal
Insurance, assumes responsibility for all standard lines
underwriting and product management. His current responsibility for
personal lines and farm insurance will be broadened to include all
standard commercial lines.
- Chief Operating Officer of Specialty
Insurance Jessica Buss, previously Chief Operating Officer of
Rockhill Insurance Group, will be responsible for completing the
integration of the business operations of Rockhill Insurance Group
and RTW, a monoline workers compensation company, into State Auto.
The underwriting, operations and actuarial functions of Rockhill
and RTW will report directly to Buss.
- Vice President of Operations Lyle D.
Rhodebeck will assume responsibility for Information
Technology, which will continue to be led by Vice President of IT
Doug Allen.
- Vice President and Chief Strategy
and Organization Effectiveness Officer Lorraine M. Siegworth
will remain responsible for human resources, benefits and
compensation, corporate communication and professional development.
Siegworth will also now serve on point for State Auto’s marketing
and branding strategies.
“I’m tremendously energized by our team and excited about State
Auto’s future,” said Restrepo. “I have every confidence that we
have the momentum underway that will restore State Auto’s
traditional underwriting profitability and sustain our newfound
growth.”
State Auto Financial Corporation, headquartered in Columbus,
Ohio, is a super regional property and casualty insurance holding
company. The company is proud to be a Trusted Choice® company
partner. STFC stock is traded on the NASDAQ Global Select Market,
which represents the top third of all NASDAQ listed companies.
The insurance subsidiaries of State Auto Financial Corporation
are part of the State Auto Group. The State Auto Group is rated A+
(Superior) by the A.M. Best Company and consists of State
Automobile Mutual, State Auto Property & Casualty, State Auto
Ohio, State Auto Wisconsin, State Auto Florida, Milbank, Farmers
Casualty, Meridian Security, Meridian Citizens Mutual, Beacon
National, Beacon Lloyds, Patrons Mutual and Litchfield Mutual Fire.
Effective January 1, 2011, the Rockhill Insurance Group (consisting
of Rockhill Insurance, Plaza Insurance, American Compensation and
Bloomington Compensation) joined the State Auto reinsurance pool
and became members of the State Auto Group. The Rockhill Insurance
Group’s current rating of A- (Excellent) is under review by the
A.M. Best Company with positive implications as a consequence of
its joining the State Auto reinsurance pool. Additional information
on State Auto Financial Corporation can be found online at
http://www.StateAuto.com.
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