CNA Financial Corp. announced the retirement of Peter Wilson, President and COO of CNA Specialty, a business unit focused on professional and management liability, financial and other specialized insurance products and services.
According to a release, Wilson's retirement is effective December 31. 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 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 CEO.
"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."
The company noted that Mark Herman has served in leadership roles at Chubb & Son, ACE and Ariel Holdings. Most recently, Herman served as CEO 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.
CNA is a commercial insurance writer and a 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.
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