Longtime CEO of Deep South Stepping Down

David Disiere, chief executive of managing general agent Deep South Insurance Group, is stepping down from the post he's held for 22 years.

Disiere said in a statement that "now is the time for me to step aside as CEO and move on to other opportunities." He said, "I'm proud of what we've accomplished together over the years, growing Deep South into an industry leader."

The Dallas-based company -- founded by Disiere's father, Francis Disiere -- is best known for its commercial automobile and transportation products. In 2008, QBE Insurance Group purchased Deep South for $190 million, closing the sale in June of 2008. Disiere, who has worked for the company since 1973, according to his personal Web site, stayed on as CEO since the sale.

A spokesman for the company said no successor had yet been announced.

Deep South has nine regional offices and employs a staff of more than 400, according the company.

Founded in 1967 in Shreveport, La., Deep South moved its headquarters to Irving, Texas, in 1995 and to Southlake, Texas, in 2000. The company provides underwriting, claims management and administrative services to a network of more than 2,000 independent agents in 24 states (BestWire, March 26, 2008).

Most of QBE's insurance companies have current Best's Financial Strength Ratings of A (Excellent).

(Jesse A. Hamilton, Washington bureau manager: Jesse.Hamilton@ambest.com)