ERIE, Pa., June 1, 2016 /PRNewswire/ -- The Board of
Directors of Erie Indemnity Company (NASDAQ: ERIE), the managing company for Erie
Insurance, has named Timothy G.
NeCastro its president and CEO-designate effective today. He
will succeed current President & CEO Terrence W. Cavanaugh, who joined Erie Insurance
in 2008 and previously announced his retirement for later this
year.
"We followed a thorough and deliberate process to ensure we
found the leader from within ERIE
who was best suited to build on the success Terry and his
predecessors created," said Thomas B.
Hagen, chairman of ERIE's
Board of Directors. "Tim has excelled as a leader at The
ERIE and understands deeply the
core values that have made us distinctive in the marketplace."
NeCastro joined Erie Insurance in 1996 as manager of internal
auditing and was promoted to senior vice president and controller
in 1997. In 2008, he broadened his experience, taking on the role
of senior vice president of product and policy services, overseeing
customer service, personal & commercial product development and
processing areas.
Since 2010, he has held the position of senior vice president
and regional officer of ERIE's
west region. This encompasses the sales and agency responsibilities
in the western half of ERIE's 12-
state footprint. "This experience has given Tim a broad perspective
on communities in other parts of the country, as well as the
political and regulatory forces that affect our business," said
current President & CEO Cavanaugh.
Prior to joining Erie Insurance, NeCastro held positions as the
director of finance at Plastek Group and as a senior manager at
Ernst & Young.
"For 20 years, I have proudly served alongside the employees and
agents at Erie Insurance," said NeCastro, president and
CEO-designate of Erie Insurance. "Together, we've worked to uphold
ERIE's leadership position in the
industry. I'm humbled to guide us into our next phase of
growth and innovation."
NeCastro earned a bachelor's degree in accounting from
Gannon University in Erie, Pa., followed by the Certified Public
Accountant (CPA) designation in 1995. He is also a Certified
Insurance Counselor (CIC) and holds licenses in property &
casualty and life insurance.
NeCastro is a native of Erie,
and is married to Lisa NeCastro,
director of ERIE's Commercial
Lines Services. Together, the couple have five children and are
active supporters of many nonprofit organizations, including St.
Paul Parish and the Sisters of St.
Joseph Neighborhood Network (SSJNN), where NeCastro is also
on the Board of Directors.
About Erie Insurance
According to A.M. Best Company, Erie Insurance Group, based in
Erie, Pennsylvania, is the 10th
largest homeowners insurer and 12th largest automobile insurer in
the United States based on direct
premiums written and the 15th largest property/casualty insurer in
the United States based on total
lines net premium written. The Group, rated A+ (Superior) by A.M.
Best Company, has more than 5 million policies in force and
operates in 12 states and the District of
Columbia. Erie Insurance Group is a FORTUNE 500 company, a
Barron's 500 company and has been recognized by Forbes as one of
America's 50 Most Trustworthy Financial Companies. News
releases and more information about Erie Insurance Group are
available at www.erieinsurance.com.
(ERIE-G)
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SOURCE Erie Insurance