Forrester, NAMIC's CEO, Retiring By 2004
NU Online News Service, Sept. 19, 3:08 p.m. EST?Larry Forrester, president and chief executive officer of the National Association of Mutual Insurance Companies, announced yesterday at the group's annual meeting in San Diego that he intends to retire by September 2004.
NAMIC said it has started the process of finding a successor to Mr. Forrester, who has been president and CEO since 1988.
John Fisher, NAMIC chairman and president of Auto-Owners Insurance Company, Lansing, Mich., said, "Larry's exceptional and inspired service to NAMIC members, and his leadership in the property-casualty insurance industry, have stretched more than three decades.
"There will be many opportunities to recognize Larry's accomplishments as he nears his retirement date. For now, the NAMIC board wanted to announce Larry's decision to NAMIC's 1,300 member companies, and to note that we have appointed a search committee and will begin a national search for a successor."
Mr. Forrester noted that when he took his post in 1988, NAMIC member companies underwrote 25 percent of the p-c insurance premium in the United States and, "Today that amount is 40 percent, more than any other P/C insurance trade association."
"Change is good for an organization, even one operating at a high level of effectiveness, contributing to the bottom line of its member companies and maintaining a 99 percent member retention rate," said Mr. Forrester.
He predicted, "NAMIC's next president will bring fresh ideas on how best to get the job done and new energy to take the organization to an even higher level."
NAMIC Chairman-Elect, F. Timothy Hegarty Jr., president of The Norfolk and Dedham Group, Dedham, Mass., will head a search committee composed of individuals representing a cross section of NAMIC's North American membership, the organization said.
NAMIC said candidates may apply to NAMIC's Human Resources Director at resumes@namic.org.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.