Martin Reith to Join Marketform as Chief Executive Officer
14 10월 2015 - 10:01PM
Business Wire
- Recruitment of highly-experienced
CEO underscores Great American’s commitment to the Lloyd’s
market
- AFG’s CFO Jeff Consolino to be
nominated as Chairman of Marketform Group
American Financial Group, Inc. (NYSE: AFG) today announced the
appointment of Mr. Martin Reith as Chief Executive Officer of
Marketform Managing Agency (“Marketform”), which operates Syndicate
2468 at Lloyd’s of London, effective November 2015.
Martin Reith has over 25 years’ experience across underwriting,
management and leadership. Most notably, he was the Founder and CEO
of Ascot Underwriting Limited, which he established in 2001 with
the support and backing of AIG. Under Mr. Reith’s leadership, Ascot
became one of the largest and top-performing businesses in Lloyd’s
with a network of overseas offices. In 2008, Mr. Reith stepped down
as CEO and served as a Non-Executive on Ascot’s Board from 2008 to
2011. Prior to Ascot, he served as CEO of XL Capital’s Insurance
Operations in London.
Mr. Reith has since developed a portfolio of businesses outside
of the insurance arena and participates on the Boards of a number
of these companies. He is the founder of his family’s charitable
trust and Chairman of Derby-based charity the Maria Hanson
Foundation. He is also a member of the Board of Directors at AmWINS
Group Inc., and has recently served as Advisory Director to Securis
Investment Partners LLP, an ILS fund based in London.
Mr. Reith’s appointment is subject to customary approvals.
John O’Neill, the current CEO, who has served Marketform well
since his joining in 2010, will assume the role as Director of
Claims and will work to ensure a smooth leadership transition.
In connection with the hiring of Mr. Reith, the Company also
announced its intention to nominate and elect Joseph E. (Jeff)
Consolino as Chairman of Marketform Group Limited, the holding
company for Marketform. Mr. Consolino also serves as Executive Vice
President and Chief Financial Officer of American Financial
Group.
Carl H. Lindner III, Co-CEO of American Financial Group, stated,
“We are excited to welcome Martin to Marketform and the Great
American Insurance Group team. His long track record of success in
building and leading insurance operations in the Lloyd’s market is
consistent with the core Great American Insurance Group tradition
of specialty focus and consistent profitability.”
About Marketform
Marketform is a leading specialist liability insurer operating
as Syndicate 2468 at Lloyd’s of London that provides world-wide
insurance solutions. Marketform is a market leader in specialty
casualty lines such as professional indemnity, general liability,
medical malpractice, mergers & acquisitions, product recall,
directors’ and officers’ liability, bloodstock and livestock,
marine (cargo, hull & war and energy liability), political risk
& trade credit, terrorism and political violence, and personal
accident. In addition to London, Marketform maintains offices in
Sydney, Australia and Milan and Naples, Italy. Marketform Limited
was founded in 1989 and Marketform Managing Agency Limited has been
operating at Lloyd’s since 1999.
About American Financial Group,
Inc.
American Financial Group is an insurance holding company, based
in Cincinnati, Ohio with assets over $45 billion. Through the
operations of Great American Insurance Group, AFG is engaged
primarily in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale of
fixed and fixed-indexed annuities in the retail, financial
institutions and education markets. Great American Insurance
Group’s roots go back to 1872 with the founding of its flagship
company, Great American Insurance Company.
Forward Looking
Statements
This press release contains certain statements that may be
deemed to be "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934. All statements in this press
release not dealing with historical results are forward-looking and
are based on estimates, assumptions and projections. Examples of
such forward-looking statements include statements relating to: the
Company's expectations concerning market and other conditions and
their effect on future premiums, revenues, earnings and investment
activities; recoverability of asset values; expected losses and the
adequacy of reserves for long-term care, asbestos, environmental
pollution and mass tort claims; rate changes; and improved loss
experience.
Actual results and/or financial condition could differ
materially from those contained in or implied by such
forward-looking statements for a variety of reasons including but
not limited to: changes in financial, political and economic
conditions, including changes in interest and inflation rates,
currency fluctuations and extended economic recessions or
expansions in the U.S. and/or abroad; performance of securities
markets; AFG’s ability to estimate accurately the likelihood,
magnitude and timing of any losses in connection with investments
in the non-agency residential mortgage market; new legislation or
declines in credit quality or credit ratings that could have a
material impact on the valuation of securities in AFG’s investment
portfolio; the availability of capital; the possibility that the
pending sale of AFG’s run-off long-term care business is not
consummated; regulatory actions (including changes in statutory
accounting rules); changes in the legal environment affecting AFG
or its customers; tax law and accounting changes; levels of natural
catastrophes and severe weather, terrorist activities (including
any nuclear, biological, chemical or radiological events),
incidents of war or losses resulting from civil unrest and other
major losses; development of insurance loss reserves and
establishment of other reserves, particularly with respect to
amounts associated with asbestos and environmental claims and AFG’s
run-off long-term care business; availability of reinsurance and
ability of reinsurers to pay their obligations; trends in
persistency, mortality and morbidity; competitive pressures,
including those in the annuity distribution channels, the ability
to obtain adequate rates and policy terms; changes in AFG’s credit
ratings or the financial strength ratings assigned by major ratings
agencies to our operating subsidiaries; and other factors
identified in our filings with the Securities and Exchange
Commission.
The forward-looking statements herein are made only as of the
date of this press release. The Company assumes no obligation to
publicly update any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151014005868/en/
American Financial Group, Inc.Media and Investor RelationsDiane
P. Weidner, Assistant Vice President, 513-369-5713orWebsites:www.AFGinc.comwww.GreatAmericanInsuranceGroup.com
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