Penn National Insurance CEO To Retire

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April 14, 2010 Wednesday

220 words

Penn National Insurance CEO to retire

Shreyasi Tambraparni

Penn National Insurance said Dennis Rowe, who is serving as chairman and CEO, will retire Oct. 1. Kenneth Shutts was named president and CEO.

Penn National Insurance said April 12 that Dennis Rowe, who is serving as chairman and CEO, will retire Oct. 1, but will retain his position as chairman of the board.

Kenneth Shutts, previously president and COO, was named president and CEO.

Christine Sears was appointed executive vice president and COO. Sears, who has been with the company since 1980, most recently served as executive vice president and CFO.

Sears is responsible for underwriting, claims and the company's third-party claims administration subsidiary, Inservco Insurance Services, Inc.

Gregory Stine, who previously served as vice president and controller, was named senior vice president, treasurer and CFO. He is responsible for the financial areas of the company, including investments and the actuarial and controller departments.

Karen Yarrish has taken over the role of senior vice president, secretary and general counsel, the company said. Most recently, Yarrish served as vice president, secretary and general counsel.

Robert Brandon will head the underwriting operations as senior vice president of that division. He previously served as vice president of the division.

Members of Penn National Insurance include Harrisburg, Pa.-based Pennsylvania National Mutual Casualty Insurance Co., Penn National Security Insurance Co. and Founders Insurance Co.

April 20, 2010