Auto-Owners CEO Named Board Chairman

Ronald H. Simon, chief executive of Auto-Owners Insurance Group, has been named chairman of the Lansing, Mich.-based company’s board of directors.

Simon’s new role became effective May 1, and he will continue to serve as CEO. He succeeds Roger Looyenga, who will continue as a board member.

Simon joined the company’s data services division in 1966. He was named president of the company in 2005 and promoted to CEO in 2008.

Auto-Owners is Michigan’s largest property/casualty insurer and among the 20 largest property/casualty companies in the United States.

Last year, the company reported net income of $192 million for its property/casualty business, which was down from $446.6 million in 2007 (BestWire, April 13, 2009). The decline was driven by the highest weather-related losses in the company’s history. Auto-Owners reported total assets of $13.5 billion for 2008, a 1% decline from 2007.

Auto-Owners Insurance Group currently has a Best’s Financial Strength Rating of A++ (Superior).

(By Al Slavin, senior associate editor, Best's Review)