The head of Liberty Mutual Group's Regional Agency Markets will retire and the unit's operations will be consolidated with the company's other independent agent markets, the carrier announced earlier this week.
Roger L. Jean, 57, president of Regional Agency Markets (RAM) and an executive vice president with the Boston-based carrier, will retire early next year, the company said.
RAM is a national organization of regional property-casualty companies concentrating business on small to midsized commercial accounts and the personal lines markets. The products are distributed through independent agents and brokers.
The company said that on July 5 it will launch a new business unit, Liberty Mutual Agency Markets. The new unit, to be headed by Gary R. Gregg, 49, executive vice president and manager of commercial markets, will include RAM, Wausau Insurance and Liberty Mutual Surety.
The company said it intends to keep its close bonds with independent agents.
The regional companies that are part of RAM are America First Insurance, Colorado Casualty, Golden Eagle Insurance, Hawkeye-Security Insurance, Indiana Insurance, Liberty Northwest, Montgomery Insurance, Peerless Insurance and Summit Holding Southeast Inc.
Mr. Jean will remain as a special consultant until his retirement, Liberty Mutual said.
Liberty Mutual created RAM in June 1999 when it acquired the U.S. operations of Guardian Royal Exchange, plc, based in the United Kingdom. Liberty Mutual appointed Mr. Jean, an executive with GRE, as RAM's president. RAM contributed almost 20 percent to Liberty Mutual's total 2004 revenues of nearly $20 billion.
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