NU Online News Service, April 7, 3:53 p.m. EDT
Ron Wright, the chief operating officer of Texas Mutual Insurance Company since 1997, will become the firm's president and chief executive officer on Sept. 1, the company said.
Mr. Wright will succeed Russell R. Oliver, who announced his retirement in February. Mr. Oliver has worked at Texas Mutual since 1994. He was named president and CEO in 1995.
Before joining Texas Mutual in 1997, Mr. Wright was senior vice president of workers' compensation for Travelers Aetna Property and Casualty Corporation.
Mr. Wright will not retain the title of COO. A spokesman for the company said the company has made no decision on the future of the position.
Austin-based Texas Mutual is a major provider of workers' compensation insurance in the state.
According to Highline Data, a unit of National Underwriter's parent firm Summit Business Media Company, Texas Mutual reported net written premium of $759 million in 2008 and net loss of $55 million.
The insurer wrote more than 29 percent of the state's workers' comp market in 2008, making it the number one standard line writer of workers' comp there. The comparison does not include state compensation funds.
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