The Travelers Companies, Inc. (NYSE: TRV) announced today that Doreen
Spadorcia, who serves as Executive Vice President, Chief Executive
Officer – Claim Services, will assume the additional responsibility of
Chief Executive Officer – Personal Insurance. Greg Toczydlowski, Senior
Vice President – Personal Insurance, has been promoted to Executive Vice
President, President - Personal Insurance, reporting to Spadorcia. The
company also announced today that Joseph P. Lacher, Jr., who has served
as Executive Vice President – Personal Insurance and Select Accounts, is
leaving the company to pursue other career opportunities.
“We are very grateful to Joe for his significant contributions to
Travelers’ success for so many years and the strong businesses he has
helped build,” said Travelers Chairman and Chief Executive Officer Jay
S. Fishman. “In his most recent role, he has overseen the expansion of
our Personal Insurance and Select Accounts operations, including our
development of direct distribution capabilities in our Personal
Insurance business. We thank him for his effort and dedication over many
years and wish him well as he pursues new opportunities.
“I am delighted that Doreen and Greg will be taking on expanded roles
within Travelers’ leadership team to continue the strategy we have
established and build upon the momentum we have achieved in our Personal
Insurance franchise,” continued Fishman. “The talent, energy, creativity
and leadership skills that Doreen and Greg bring to their new roles make
them an excellent team to continue the impressive performance of this
business.”
Brian W. MacLean, President and Chief Operating Officer, stated: “As
head of our claims function since 2005, Doreen has successfully
implemented initiatives that dramatically reduced settlement times –
establishing important competitive advantages for our insurance
operations – and created the Travelers Claim University to assure that
we have the most knowledgeable and well-trained claim staff in the
business. We are pleased that Doreen will continue to lead our claim and
risk control functions, as she applies her executive leadership skills
to our Personal Insurance business.
“Since joining Travelers in 1990, Greg has held various positions of
increasing responsibility in Personal Insurance, including duties within
underwriting, product, marketing, finance, systems and business
development,” continued MacLean. “He has served in a principal role
executing our Personal Insurance strategy, and our business will benefit
from both the continuity of his leadership and the insight, knowledge
and dedication he brings to the business.”
Spadorcia said: “I am delighted to have an opportunity to work with Greg
and the tremendous management and staff in our personal lines function
to take this business to the next level. Greg is a keen strategic
thinker and has demonstrated an ability to attract and develop top
talent. He has also been an important addition to the Travelers
Management Committee since he was appointed in January of this year. I
look forward to continuing to work with our truly outstanding Claim and
Risk Control teams.”
Spadorcia began her career at Travelers in 1986. She was President and
CEO of Travelers’ Bond business from 2002 until 2005, when she assumed
responsibility for the Claim organization.
Marc Schmittlein, Senior Vice President, President – Select Accounts,
will retain responsibility for Travelers’ Select business, reporting to
John Albano, Executive Vice President – Business Insurance.
Travelers is a leading provider of property casualty insurance for auto,
home and business. For more information, visit www.travelers.com.
The Travelers Companies, Inc.
Media:
Shane Boyd, 651-310-3846
or
Jennifer
Wislocki, 860-277-7458
or
Institutional Investors:
Gabriella
Nawi, 917-778-6844
or
Andrew Hersom, 860-277-0902
or
Individual
Investors:
Marc Parr, 860-277-0779
