(Bloomberg) -- Hartford Financial Services Group Inc. hiredRic Pena from Zurich Insurance Group AG as vice president of anewly created energy practice in a push to expand operations under ChiefExecutive Officer Chris Swift.
|Pena will be based in Frisco, Texas, and report to Tom Boudreau,head of construction and energy insurance, the Hartford,Connecticut-based company said Tuesday in a statement. Penaformerly led Zurich’s energy-casualty business unit, Hartfordsaid.
|“Our presence in the energy sector previously was in renewableenergy, so with this announcement we are expanding the energypractice to include power and utilities as an initial focus,” TomHambrick, a company spokesman, said in an e-mail.
|
Swift became Hartford’s CEO in 2014 and said last yearthat the insurer should be more “offensive-minded” afterselling some units. Hartford agreed last month to buy Georgia-basedcommercial insurer Maxum Specialty Insurance Group in what would beSwift’s first acquisition as CEO.
|(Photo at left: Ric Pena, the VP of the newly createdenergy practice at Hartford. Courtesy of Zurich)
|Executives have been leaving Zurich, Switzerland’s biggestinsurer, as it plans to cut as many as 8,000 jobs by the end of2018. Michael Kerner, who led the general-insurance unit,and Charles Higham, head of North American financialinstitutions, departed for Everest Re Group Ltd. this year. PeterMcCarron, a senior vice president, was hired by CNA Financial Corp.in January.
|Related: Hartford to buy Maxum Specialty Insurance for$170M
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
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