CNA Gives Restructuring Details

November 7, 2007

CNA Financial Corporation has given further details to its recently announced restructuring program for its Property & Casualty Operations. The Chicago-based insurer said it aims to create a “more streamlined, customer-focused operating structure.”

CNA’s strategy also reflects feedback from CNA agents and brokers, in altering the operations to “help increase CNA’ s visibility in the market, leverage the structure of local branch offices and make it easier for agents to do business with CNA,” said the bulletin.

“These changes reinforce the central role our 29 branches play in bringing the full range of CNA’s national capabilities to the local market,” explained President and CEO of P/C Operations Jim Lewis. “We are excited about serving our customers and distributors through a more efficient, integrated and focused operating structure.”

CNA said its “local presence remains the same and no branches were closed. Field leadership is led from two regional centers – Field Operations West and Field Operations East. Each center will be led by Field Operations presidents – Steve Stonehouse (West) and Dennis Barger (East) — who will execute underwriting and distribution strategies and work to maintain profitability.”

Stonehouse recently served as president of CNA’ s former West region and has a great deal of experience. Before joining CNA, he served as senior vice president of the Commercial Accounts Division of Reliance Insurance as well as managing director and West Zone officer for the Chubb Group of Insurance Companies.

Barger, who recently served as president of CNA’ s former South region, is a Certified Insurance Counselor (CIC) with an insurance career that includes leadership responsibilities at Fireman’ s Fund, Zurich and the Hartford.

CNA also listed a number of changes it will be making in its P&C Operations as follows:
Commercial Insurance, which provides centralized underwriting and service support to the Field, includes Middle Market, Commercial Segments and Risk Control. This area is led by Naveen Anand, who recently served as president of CNA’s former Central region. He has two decades of insurance industry experience, including 15 years with the Chubb Group of Insurance Companies.
Business Insurance, which consolidates CNA’s Small Business and CustomXpress units. CustomXpress targets accounts in the size range between small business and middle market. It is led by Larry Illion who, for the past three years, has been senior vice president for CNA Small Business. Prior to joining CNA, Illion served as president & chief executive officer of Travelers small business insurance division, and spent 30 years in various Middle Market leadership roles at Reliance Insurance Company.
Distribution Management, which is focused on a disciplined, data-driven approach to managing distribution and establishing a visible, local presence in the marketplace. This team is led by John Hennessy, former senior vice president of CNA Casualty Underwriting and Middle Market, who has a 25-year insurance career that began at CNA. He was most recently responsible for strategy and direction of CNA’s casualty underwriting, as well as overall leadership of CNA’s Middle Market book of business.
Global Specialty Lines remains under the leadership of Peter Wilson whose responsibilities have been expanded to include all foreign operations including those in Europe, Canada and Argentina

CNA is the country’ s seventh largest commercial insurance writer and the 13th largest P/C company. The Company’s insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.

Source: CNA – www.cna.com

Topics Property Casualty Small Business

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