US insurer Cincinnati Monetary has introduced a key management reshuffle, with present president Stephen Spray set to develop into the brand new CEO in Could.
He’ll succeed Steven Johnston, who will proceed as govt chairman, specializing in sustaining key relationships throughout the {industry}.
Spray joined Cincinnati Monetary in 1991.
His expertise spans gross sales, advertising, underwriting and govt management, together with the institution of the Cincinnati Specialty Underwriters Insurance coverage Firm.
As well as, the insurer has expanded its board of administrators, including two new seats.
Peter Wu joins as an unbiased director, whereas Spray may also function a non-independent director.
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Wu and Spray have additionally been appointed to key committees, efficient instantly.
Wu, who has a background in insurance coverage analytics and rising applied sciences, brings greater than 30 years of expertise.
He has been related to Boston Consulting Group since 2022.
At BCG, Wu supplied steering on information science, synthetic intelligence and insurance coverage analytics, with an emphasis on new applied sciences and the way they have an effect on the insurance coverage sector.
Earlier than that, he labored at Deloitte Consulting, the place he co-founded a staff centered on superior analytics options for the insurance coverage sector.
Johnston stated: “Steve is the best candidate to guide the corporate ahead. He’s a considerate, strategic and confirmed chief with a deep understanding of methods to keep our industry-leading profitability and progress and of the worth of the relationships we get pleasure from with our brokers.
“Our shareholders profit from our extremely engaged board of administrators who carry their big selection of experiences and expertise. Peter’s expertise in information analytics and synthetic intelligence will help our ongoing efforts to harness the ability of those new applied sciences, whereas Steve’s deep understanding of our enterprise mannequin and the company relationships that differentiate us will improve board discussions.”
