Selective Insurance Group announced that John J. Marchioni, who has served as the company’s president and chief operating officer since 2013, has been unanimously elected as its next chief executive officer, effective Feb. 1, 2020.
Marchioni will succeed Gregory E. Murphy, who will retire as CEO after serving in the position since 1999. Murphy, chairman of the Selective board since 2000, will assume the newly created role of executive chairman upon his retirement.
Murphy praised Marchioni as a “thoughtful and strategic executive with a deep understanding of our industry and how to profitably grow our business.” He said the selection was the result of a “thoughtful succession process.”
Since Murphy became CEO in 1999, Selective has achieved a total shareholder return of 1,081%. Also, net premiums written have tripled from $750 million to $2.5 billion; commercial lines operations have been expanded from 16 to 27 states; and the company entered the excess and surplus lines marketplace.
On Murphy’s watch, Selective also implemented commercial lines predictive modeling; introduced enhanced safety management tools for business customers; made diversity and inclusion an organizational imperative; and added customer communications, self-service and digital policy offerings and new technologies including Selective Drive and SWIFTClaim.
The company also installed a solar photovoltaic generation facility at its corporate headquarters that provides financial benefits from the sale of renewable energy credits.
“In his 20 years as CEO, Greg Murphy has created substantial value for our shareholders, developed Selective into the premier independent agency carrier, and instilled an unsurpassed corporate commitment to providing our insureds with exceptional customer experiences,” said J. Brian Thebault, Selective’s lead independent director.
Marchioni has been with Selective for more than 21 years.Marchioni has served as president and chief operating officer of Selective since 2013. In May 2019, he was elected to Selective’s board of directors. He joined Selective in 1998 as a government affairs specialist, was promoted to assistant vice president of Government Affairs in 2000, and named vice president of Government Affairs in 2003.
He was appointed vice president and Strategic Business Unit Leader in 2004 and senior vice president, director of Personal Lines and Flood in 2005. In 2007, he was promoted to executive vice president, chief Field Operations leader and, in 2008, executive vice president, Insurance Operations.
- Selective Insurance Group Announces Officer Appointments
- Selective Insurance Announces Officer Appointments
Was this article valuable?
Here are more articles you may enjoy.