Cincinnati Financial Corp., in Cincinnati, Ohio, has named Jacob F. Scherer chief insurance officer of The Cincinnati Insurance Co. Scherer currently is executive vice president of the company, a post he will retain.
His executive oversight responsibility for the insurance subsidiaries is expanded to include personal lines and reinsurance in addition to business insurance. The company is consolidating under Scherer the responsibility for strategic oversight of multiple departments handling property casualty insurance sales, marketing, underwriting and related field services.
Scherer’s 28 years with Cincinnati and 38 years of service in the insurance industry include experience in sales and agency relationship management, field marketing and underwriting, life insurance marketing, agency perpetuation planning and management of a family-owned independent insurance agency.
The company also announced that Thomas A. Joseph is leaving the company after 35 years of service. Joseph was senior vice president in charge of personal lines operations for The Cincinnati Insurance Co. and president of The Cincinnati Casualty Co. since 2008.
Source: Cincinnati Financial Corp.