Electric Insurance Company in Beverly, Mass. has named Marc A. Meiches as president and chief executive officer, effective July 1, 2006. Meiches will succeed Larry Cohen who has been acting CEO since April 2005.
Meiches comes to Electric Insurance from GE Insurance Solutions (GEIS) where he was the executive vice president and chief financial officer. He joined GEIS in 2000 with more than 20 years of financial experience with global organizations. GEIS, with over $10 billion in premium and over $50 billion in combined assets, was comprised of 2,500 employees in 50 states and 22 countries. The company was recently sold to Swiss Re.
Prior to GEIS, Meiches was with GE Capital Aviation Services, based in Stamford, Conn.
Electric Insurance is a provider of personal lines insurance products that was originally incorporated in 1966 to serve the needs of GE’s employees, Electric Insurance has since expanded its auto, homeowners, and umbrella insurance products to consumers through independent agentsl and direct-to-consumer website.
In addition, the company is an insurer, reinsurer, and third-party administrator for many of GE’s insurance programs. Electric Insurance manages approximately $160 million in personal lines premium for nearly 125,000 policyholders.
Source: Electric Insurance
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