Great American Insurance Group Announces Leadership Succession Within Two of its Specialty P&C Divisions

CINCINNATI--(BUSINESS WIRE)--
Great American Insurance Group recently announced the promotion of two divisional presidents within its Specialty Property & Casualty Group in anticipation of planned retirements.

Michael (Mike) B. Mulvey has been named Divisional President within Great American’s FCIA – Trade Credit & Political Risk Division. Mr. Mulvey succeeds Phil Lally, who will retire in July after more than 31 years of distinguished service to the Company.

Mr. Mulvey joined FCIA in 2012 as Divisional Vice President, leading its claim and recovery operations. In 2021, he was promoted to Divisional Senior Vice President and was responsible for reinsurance, compliance and corporate governance, as well as serving on the Division’s Credit Committee. He brings more than 30 years of experience to the position with expertise in claims and underwriting. Mr. Mulvey earned a Bachelor of Arts from Lehman College and a Juris Doctor (JD) from Pace University.

In addition, the Company recently promoted Stephanie M. Hoboth to Divisional President within its Fidelity / Crime Division. Ms. Hoboth succeeds Frank Scheckton, who will retire in September after nearly 28 years of distinguished service at Great American.

Ms. Hoboth joined Fidelity / Crime in 1997 as the division's sixth employee and has spent her entire career with Great American. Since that time, she has held numerous leadership positions within the Company and recently served as Divisional Senior Vice President, overseeing most Fidelity / Crime underwriting offices, its specialty underwriting group and IT functions. Ms. Hoboth was instrumental in developing numerous initiatives, including a program business model, and the Kidnap and Ransom program. In addition, she was instrumental to helping the Company become the largest crime writer of Native American risks in the United States.

Ms. Hoboth graduated magna cum laude from the University of Connecticut with a Bachelor of Arts. In 2016, she was named an Elite Woman in Insurance by Insurance Business America.

About FCIA

FCIA is a division of Great American Insurance Company. FCIA underwrites and services the Trade Credit & Political Risk Insurance Policies of Great American Insurance Company and has been part of the Great American Insurance Group since 1991. FCIA's associated organization, the Foreign Credit Insurance Association, pioneered export credit insurance in the United States in 1961. FCIA offers export and domestic Trade Credit Insurance as well as a wide variety of Specialty Trade Credit and Political Risk products that facilitate global trade and related financing activities. With over six decades of service, FCIA's seasoned team of credit professionals has a well-established track record of providing customized solutions to meet its insureds’ unique needs.

About Great American’s Fidelity / Crime Division

With more than 25 years of protecting virtually every class of business from crime-related losses, Great American’s Fidelity / Crime Division has a depth of experience in both underwriting and claims that is unmatched in the marketplace. As one of the largest monoline crime insurers in the hemisphere, the Fidelity / Crime Division maintains $50 million in underwriting capacity for private and public businesses, financial institutions and governmental entities, and $65 million in a broad kidnap, ransom & extortion policy. Additionally, Fidelity / Crime offers specialized products and programs for casinos and gaming operations, armored car companies, mining risks, ATM companies, security guards and check cashers and fine art insurance for museums, galleries, private collections, libraries and conservators.

About Great American Insurance Group

Great American Insurance Group’s roots go back to 1872 with the founding of its flagship company, Great American Insurance Company. Based in Cincinnati, Ohio, the operations of Great American Insurance Group are engaged primarily in property and casualty insurance, focusing on specialized commercial products for businesses. Great American Insurance Company has received an “A” (Excellent) or higher rating from the A.M. Best Company for more than 110 years (most recent rating evaluation of “A+” (Superior) affirmed December 3, 2021). The members of Great American Insurance Group are subsidiaries of American Financial Group, Inc. (AFG), also based in Cincinnati, Ohio. AFG’s common stock is listed and traded on the New York Stock Exchange under the symbol AFG.

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Diane P. Weidner, IRC

Vice President, Investor Media Relations

American Financial Group, Inc.

513-369-5713

Websites:

www.GAIG.com

www.AFGinc.com

Source: Great American Insurance Group