Fireman’s Fund Selects Kavitsky to Succeed Post as CEO and President

May 10, 2004

Fireman’s Fund Insurance Company (FFIC), the California-based subsidiary of Germany’s Allianz, announced that Jeff Post, 44, has resigned as CEO and president for personal reasons and will leave the company at his own request. His replacement is Fireman’s Fund Board Member Charles (Chuck) Kavitsky, 52, who will step down from his current position as president of Allianz Life, effective immediately.

Post joined Fireman’s Fund in May 1994 as chief actuary and was appointed CFO in January 1996. he became CEO in January 2001. “I thank Jeff for his achievements and all the work at the helm,” stated Jan Carendi, chairman of Fireman’s Fund and member of the Board of Management of Allianz AG in charge of the Americas.

Michael Diekmann, chairman of the Allianz Board of Management commented: “Jeff engineered an impressive turnaround as CEO at Fireman’s Fund and thereby made an important contribution to the success of the Allianz Group.”

Kavitsky joined LifeUSA in 1995 where he was part of the senior management of the company and was also responsible for product development. Allianz Life acquired LifeUSA in 1999. In 2002, Kavitsky was appointed President of the new Allianz Life.

Carendi noted: “Chuck Kavitsky’s documented leadership skills in building teams in an entrepreneurial yet structured way, will be instrumental in helping Fireman’s Fund to reach its challenging objectives. It will be his task to lead Fireman’s Fund after the successful completion of the turnaround into a new phase of sustained profitability across market cycles by aligning and focusing the resources.”

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