Ohio Casualty Corporation has completed a new five-year agreement with its current President and Chief Executive Officer, Dan R. Carmichael, effective immediately.The prior contract with Carmichael was due to expire on Dec. 31, 2005.
“We look forward to Dan delivering results and providing leadership to the Corporation for the next five years,” commented Ohio Casualty Corporation Lead Director Stanley N. Pontius. “The Board has been very pleased with his ability to determine a strategy and provide guidance for the successful execution of that strategy, as well as his overall performance as CEO. Due to his direction the past five years, the Corporation has seen a dramatic turnaround in its financial performance and is providing greater value to our shareholders. The annualized total shareholder return over the five-year period has exceeded the 75th percentile of the Dow Jones Insurance Index for Property and Casualty Insurance Companies through October 31, 2005.”
Carmichael, 60, joined Ohio Casualty Corporation on Dec. 12, 2000. From 1995 until his employment with Ohio Casualty, he served as president and chief executive officer of IVANS, Inc., Greenwich, Conn., an industry-owned organization that provides electronic communications services to insurance, health care and related organizations in the United States and Canada. Prior to his tenure at IVANS, he served eight years as chairman, president and chief executive officer of Anthem Casualty Insurance Group (Shelby Insurance and Anthem Casualty).
Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty subsidiary companies that make up Ohio Casualty Group. The Ohio Casualty Insurance Company was founded in 1919 and is licensed in 49 states.
Was this article valuable?
Here are more articles you may enjoy.