American Financial Group, Inc. Announces Neon Leadership Transition
September 12 2019 - 4:30PM
Business Wire
American Financial Group, Inc. (NYSE: AFG) announced today that
Martin Reith has shared his intention to resign his executive roles
with Neon, including stepping down as Group CEO of Neon, effective
September 30, 2019. He will remain a member of the Neon
Underwriting Ltd. (NUL) Board of Directors. In his role as
non-executive director of NUL, Mr. Reith will continue to work with
the Neon management team and AFG to ensure an effective transition,
and will advise the management team on other strategic matters.
In conjunction with this transition, Theo Butt, CEO of NUL, will
succeed Mr. Reith as a director on the board of Neon Capital Ltd.
(NCL), the parent holding company for Neon. Jeff Consolino,
Executive Vice President, Chief Financial Officer and Director of
AFG, will continue to serve as Chairman of NCL and NUL.
Jeff Consolino stated, “After remaking Neon’s brand and
recruiting top talent over the past four years, Martin has
announced his intention to step aside from day-to-day operations
and continue to work as a non-executive director of Neon to assist
in completing its journey toward becoming a top quartile Lloyd’s
business. We are grateful for Martin’s leadership and his
contributions that have positioned Neon for future success and
profitable contributions to AFG.”
Martin Reith added, “I am incredibly proud of what Neon has
achieved in such a short space of time. The Neon management team
has worked tirelessly to evolve Neon into a meaningful and
respected position within the Lloyd’s Market. It has been a
pleasure to see the Neon brand evolve and gain relevance, and with
the hard yards behind us, I wish Theo and all at Neon continued
success as they maximize opportunities now arising from a more
disciplined market. As I step back from the day-to-day, I look
forward to continuing to support Neon as a non-executive
director.”
About American Financial Group, Inc.
American Financial Group is an insurance holding company based
in Cincinnati, Ohio, with assets over $65 billion. Through the
operations of Great American Insurance Group, AFG is engaged
primarily in property and casualty insurance, focusing on
specialized commercial products for businesses, and in the sale of
traditional fixed, fixed-indexed and variable-indexed annuities in
the retail, financial institutions, broker-dealer, registered
investment advisor and education markets. Great American Insurance
Group’s roots go back to 1872 with the founding of its flagship
company, Great American Insurance Company.
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version on businesswire.com: https://www.businesswire.com/news/home/20190912005913/en/
Diane P. Weidner, IRC Asst. Vice President - Investor Relations
513-369-5713
Websites: www.AFGinc.com
www.GreatAmericanInsuranceGroup.com
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