FCCI Insurance Group Expands Into Maryland and Texas

FCCI Insurance Group will this year start writing commercial property/casualty coverage in Maryland and Texas, while laying expansion plans in Louisiana and Arkansas.

The company is adding three new management positions to guide the expansion.

"These new positions and colleagues will help FCCI achieve our 2012 corporate goals, as well as our longer-term strategic objectives," Craig Johnson, FCCI president and chief executive officer, said in a statement.

According to BestLink, the company has enhanced their market profile in recent years because of management's profitable expansion efforts through a geographic and product line diversification strategy. FCCI has been a market leader in workers' compensation and employers' liability coverages, but has expanded in the past decade to become a multiregional, multiline commercial property/casualty insurer.

Among the management changes:

— Rich Rueger, formerly senior vice president of FCCI's Southeast region, will become senior vice president of business development and strategic initiatives.

— Bill Speaker, formerly senior vice president of FCCI'sFlorida region, will become senior vice president of home office underwriting.

— Warren Edwards, vice president of underwriting for the Florida region, will assume the position of senior vice president of the Florida region.

— Chris Piela, former regional vice president of Montgomery Insurance, will be senior vice president of the Southeast region.

— Jim Harms, most recently vice president of CNA's Dallas branch, will take the newly created role of regional vice president in Texas.

The company's net premiums written were $430.2 million in 2010 and $436.8 million in 2009, according to BestLink. Net income was $44 million in 2010 and $37.2 million in 2009. FCCI currently has a Best's Financial Strength Rating of A- (Excellent).

The top five writers of commercial multiperil in Maryland in 2010 were: Travelers Group, with market share of 11.7%; Hartford Insurance Group, with 9.5%; Erie Insurance Group, with 9.5%; Liberty Mutual Insurance Cos., with 5.8%; and State Farm Group, with 5.4%, according to BestLink.

The top five writers of commercial multiperil in Texas in 2010 were: Hartford Insurance Group, with market share of 8.8%; Travelers Group, with 8.7%; Liberty Mutual Insurance Cos., with 7.3%; Nationwide Group, with 6%; and Zurich Financial Services North America Group, with 5.8%, according to BestLink.

(By Michael Buck, senior associate editor, BestWeek: [email protected])