Specialty insurer Argo Group International Holdings has named Jeff Grange to serve as an executive vice president for U.S. operations. In this role, Grange will lead the following businesses: Argo Casualty, Argo Pro, Argo Insurance, Rockwood and Argo Cyber. He will also be responsible for U.S. claims. Grange will report to the company’s Interim Chief Executive Officer Kevin Rehnberg.
Argo recently established a new reporting structure for U.S. operations led by three executive vice presidents, including Gary Grose and Tim Carter.
Grange has more than 25 years insurance experience. He joined QBE North America in September 2013 as senior vice president for Management Liability & Professional Lines. In November of that same year he was promoted to president of Specialty Insurance, heading the company’s Accident & Health, Healthcare, Financial Institution, Aviation, Management Liability, Media & Entertainment, Professional Lines, Technology, Transaction Liability, Trade Credit, Surety and Political Risk and Surety businesses. In February 2014, he was appointed as the chairman of the Underwriting Committee for QBE North America.
He previously served as the chairman of the Group Underwriting Committee and Global Practice Leader for Management Liability & Professional Lines at Torus Insurance and he spent more than 21 years with the Chubb Group of Insurance Companies where he was a senior vice president and worldwide manager for the professional liability businesses, which included the legal, technology, life sciences, media/entertainment, healthcare and financial institution customer segments.
Under the new reporting structure, the three newly-appointed executive vice presidents including Grange report to Kevin Rehnberg, president, group chief administrative officer and head of the Americas for Argo.
Last month, Rehnberg was named interim chief executive officer, subject to Bermuda regulatory approval, following the exit of CEO Mark E. Watson.
Watson’s exit came after the Securities and Exchange Commission began to investigate the company’s disclosures about executive compensation. In addition, an Argo Group shareholder, Voce Capital Management, a hedge fund that owns close to a 6% stake in the insurer, has been waging a campaign against Argo’s alleged excessive corporate expenses, which it said included corporate jet travel and housing for CEO Watson.
Argo renewed its fight last week, calling for a special shareholder meeting.
Argo has denied all accusations regarding lavish spending.
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- Amid Expense Allegations, Argo Shareholders Elect Board, Barely Approve Executive Pay
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- Argo Shareholder Accuses CEO Watson of ‘Shockingly High’ Corporate Expenses
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