Western National Insurance Group announced plans yesterday to launch a new property-casualty insurance company focusing on business lines.
The company explained that it currently has a wholly-owned company shell, Pioneer Insurance Company, which will be renamed Pioneer Specialty Insurance Company and, after appropriate capitalization, will write classes of commercial business in the first quarter of 2008.
Edina, Minn.-based WNIG said the new company will be led by Brian A. Jermeland, with the title of senior vice president and general manager.
Mr. Jermeland has 16 years of specialty insurance experience and has held management roles at Northland Insurance Company, most recently serving as vice president of fleet transportation, the company said.
Stu Henderson, WNIG president and chief executive officer, said, “While the group already has some business that could be called 'specialty' due to our individual account underwriting philosophy and deep bench strength of underwriters, Pioneer Specialty will focus its future growth efforts in specific niches that best match our underwriting expertise with market opportunities.”
He said the Pioneer business plan will be fine-tuned under the new leadership in the next few months.
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