Gulf Group Expands Executive Team

July 19, 2002

Gulf Insurance Group, a subsidiary of Travelers Property Casualty, has created new executive positions, as well as acquired new staff.

Kent Ziegler has been named Chief Administrative Officer. Ziegler has been with Gulf for 13 years, the last six of which were as Chief Financial Officer. Prior to Gulf he worked for Commercial Credit (part of Citigroup) and also Ernst & Young.

Frank Prudente has been named Chief Financial Officer. Prudente replaces Ziegler, and he joins Gulf with over 12 years experience in the public accounting and insurance industries.

Bruce C. Bassman has been named Chief Actuary. Most recently, Bassman served as Executive Vice President for Harleysville Insurance in Corporate Development including responsibility for mergers & acquisitions activities. Prior to that he was a principal with Tillinghast-Towers Perrin for 13 years, including four years as leader of the North American Insurance Practice.

Doug Poetzsch was named Chief Claims Officer. Poetzch had been managing the Gulf Professional Liability Claims unit for the past two years. Prior to Gulf he spent three years in claims management with American International Group; and five years with Sedgwick, Detert, Moran & Arnold where he focused on insurance coverage.

Patricia Lubey was named Chief Compliance Officer. Previously, she had been with American International Group for a total of 12 years, her last position being Associate General Counsel & Vice President for Domestic Brokerage Group.

Finally, Dennis Seeman has been named Operations Manager. Seeman replaces Jo Ann Devito, who retired earlier this year. Seeman transferred from a sister company, CitiCapital, where he had responsibility for all operations. His career has included senior audit positions with TCF Bank Savings, First Bank Minneapolis, and Travelers Express Company.

All new staff, with the exception of Seeman, will be located in New York. Seeman will be based in Irving, Texas.

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