The Travelers Companies,Inc. has promoted Alan Schnitzer to vice chairman and chief executive officer of Business and International Insurance and promoted Doreen Spadorcia to vice chairman and chief executive officer of Personal Insurance and Bond & Financial Products, effective July 1, 2014.
Both executives will report to Brian MacLean, Travelers president and chief operating officer.
In connection with these promotions, the company said it will report its results through the following three business segments: Business and International Insurance, Personal Insurance and Bond & Financial Products.
The company also announced that Bill Cunningham, who served as executive vice president, Business Insurance, has decided to leave the company to pursue other opportunities.
Schnitzer is currently a vice chairman, overseeing the Financial, Professional & International Insurance business segment and the company’s U.S. Field Management organization. He will maintain oversight of Field Management, Corporate Communications and Public Policy.
He has also been the chief legal officer for Travelers, overseeing the company’s legal, public policy, government relations and communications functions. In addition, he works closely with other members of the company’s senior leadership team on a wide range of business and strategic matters.
Schnitzer joined Travelers in April 2007. He previously served as Travelers’ lead outside counsel for a number of years as a partner in the law firm of Simpson Thacher & Bartlett LLP.
Schnitzer serves on the U.S. Securities and Exchange Commission’s Investment Advisory Committee created under the Dodd-Frank Act and the Advisory Board for the University of Pennsylvania’s Institute for Urban Research, and he is a member of the Council on Foreign Relations.
Spadorcia, a vice chairman, is currently chief executive officer of Claim and Personal Insurance, and she also oversees Risk Control, Analytics, Marketing, and Operations & Systems. In her new post, Spadorcia will maintain oversight of Claim, Risk Control, Analytics, Marketing, Operations, eBusiness, Technology and Special Liability Group.
Since joining Travelers in 1986 as a claim attorney, Spadorcia has held positions of increasing responsibility. In 2009, she assumed the role of CEO – Personal Insurance in addition to leading Claim Services, a position she has held since 2005. Prior to that, she was president and CEO of the bond business unit. From 1994 to 2002 she managed the Travelers bond claim operation and served as general counsel of that business unit.