Richard Ravin, chairman and chief executive officer of Combined Insurance Co. of America, will retire as CEO to be succeeded by Doug Wendt, currently president and chief operating officer.
Combined Insurance, a subsidiary of Chicago-based insurance broker Aon, said Mr. Ravin would retire from the position on July 1 but remain as chairman through the end of the year. Beginning in 2008, Mr. Ravin will become chairman-emeritus.
Mr. Wendt will succeed Mr. Ravin as CEO on July 1.
Mr. Wendt joined Aon in 2006 from Allstate Insurance where he spent more than 32 years serving in a number of roles, including president of Encompass, Allstate's independent agent division. He was responsible for more than 8,000 independent agencies in 43 states.
This year will mark Mr. Ravin's 35th anniversary with Combined Insurance.
Aon said that both Combined Insurance Company of America and Combined Life Insurance Company of New York have a worldwide sales force of approximately 6,900 exclusive agents. Third-quarter 2006 revenues were approximately $511 million.
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