CHICAGO--(BUSINESS WIRE)--
CNA Financial Corporation (NYSE: CNA) today announced the retirement of
Peter Wilson, President and Chief Operating Officer of CNA Specialty, a
$2.9 billion business unit focused on professional and management
liability, financial and other specialized insurance products and
services. Wilson’s retirement is effective December 31, 2012. Succeeding
Wilson is Mark Herman, 54, who has built and led multiple successful
insurance businesses over more than 25 years.
As a leader in CNA’s specialty business since 1992, Wilson was
instrumental in developing market-leading positions in a broad range of
professional and management liability markets. In 2011 and 2012, CNA was
named the best U.S. Specialty Insurer by U.K.-based Intelligent
Insurer magazine.
“Pete Wilson led some of CNA’s most successful businesses. Throughout
his career, he brought to CNA a sharp focus on the customer, distinctive
products and services, and strong producer relationships. This legacy
will continue to serve us well. We thank him for his many
contributions,” said Thomas F. Motamed, Chairman and Chief Executive
Officer.
“We have concluded that the leadership of CNA Specialty is a
Chicago-based position,” said Motamed. “After much discussion, Pete, who
has deep roots in the East, decided to retire and pursue other East
Coast-based opportunities.”
Mark Herman has served in leadership roles at Chubb & Son, ACE and Ariel
Holdings. Most recently, Herman served as Chief Executive Officer at
Everest National Insurance Company. Herman will join CNA, effective
January 1, 2013, working out of CNA’s corporate headquarters in Chicago.
He and his family will be actively seeking a home in the Chicago area.
Serving businesses and professionals since 1897, CNA is the country’s
seventh largest commercial insurance writer and the 13th
largest property and casualty company. CNA’s insurance products include
standard commercial lines, specialty lines, surety, marine and other
property and casualty coverages. CNA's services include risk management,
information services, underwriting, risk control and claims
administration. For more information, please visit CNA at www.cna.com."CNA" is a service mark registered by CNA Financial Corporation with
the United States Patent and Trademark Office. Certain CNA Financial
Corporation subsidiaries use the "CNA" service mark in connection with
insurance underwriting and claims activities.
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CNA Financial Corporation
Jennifer Martinez, 312-822-5167
Sarah
Pang, 312-822-6394
312-607-5544 (cell)
Source: CNA Financial Corporation