Omaha, Neb.-based small business workers’ compensation carrier FirstComp named David E. Thomas as its new treasurer and chief financial officer. He had served as an executive consultant since the fall of 2003.
Before joining FirstComp, Thomas spent 17 years at Carmel, Ind.-based Monroe Guaranty Insurance Co. In 1991, Thomas led a highly leveraged employee buyout of Monroe’s former owner and, in doing so, the company became the only property/casualty insurer in the United States wholly owned by its employees.
Thomas joined Monroe Guaranty Insurance in 1984 and under his leadership the company grew from a startup to a Midwest market leader with more than $135 million in commercial P/C premium volume in six states. By 2000, Monroe Guaranty was one of the five largest P/C insurers in Indiana, Kentucky and Ohio.
While at Monroe Guaranty, Thomas served as chief information officer, chief financial officer, chief operating officer and, ultimately, president and CEO.
Thomas also served as CIO and CFO for Indiana Lumbermens Mutual Insurance Co. in Indianapolis for nine years. Prior to that assignment, Thomas held senior-level systems development positions with United Fire & Casualty Insurance Co. of Cedar Rapids, Iowa, and Progressive Corp. in Mayfield Village, Ohio. In both assignments, he was responsible for moving the technology platform used for operations to multiple decentralized locations through a migration from batch processing to online, real-time environments.
Topics Property Casualty
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