Mutual Risk Management, the troubled Bermuda-based holding company that owns the Legion Insurance Group, announced that John Kessock Jr. has resigned as President and a Director of the Company “in order to pursue personal interests.”
Kessock’s resignation, after 23 years with Mutual, comes ten days after a court granted the Pennsylvania Insurance Department’s request to put Legion Insurance Company and Villanova Insurance Company under orders rehabilitation.
The PID took over management of the Legion companies following large losses, and they are no longer accepting new business. Following that action the New York Stock Exchange announced that it intends to de-list Mutual’s shares from trading.
Was this article valuable?
Here are more articles you may enjoy.