Schmittlein will serve as combined President and CEO /
Executive Chair
PHOENIX, July 8, 2024
/PRNewswire/ -- CopperPoint Insurance Companies, a western-based
super regional commercial insurance company and leading provider of
workers' compensation and commercial insurance solutions, announced
today that CEO Marc Schmittlein will
succeed Ken Kirk as Chair of the
Board of Directors for the company, serving as the combined
President and CEO/Executive Chair.
The Board has also elected current member Marita Zuraitis to serve as Lead Independent
Director.
Schmittlein, who was elected to the Executive Chair role at the
organization's June Board meeting,
joined CopperPoint as CEO in 2016. Since that time, he has overseen
organizational transformation taking the company from $255 million in Gross Written Premium and
$3.6 billion in total assets in 2016
to $715 million in Gross Written
Premium and $5.2 billion in total
assets in 2023.
Prior to joining CopperPoint in 2016, Schmittlein spent 30 years
in the commercial insurance industry, most recently with The
Travelers Companies as president of its cyber business division and
previously as co-president of business insurance. Prior to those
roles, he served as president and CEO of the small commercial
division known as Select Accounts, a $2.7
billion division of Travelers' Business Insurance that
included workers compensation, business owner's policy, umbrella
coverage and commercial auto. In addition, his career includes
leadership roles in commercial divisions of St. Paul Companies and
Aetna. As a part of his leadership tenure at Travelers, Schmittlein
was appointed as an EVP in 2010, and placed on the company's senior
leadership team for both Operating and Management Committees.
"Prior to my term ending, the Board and I discussed the
importance of consistency and continuity of the organization's
strategic plans going forward," said Ken
Kirk, former Chair of CopperPoint's Board of Directors. "To
that end, the Board has strong support of Marc Schmittlein as the next Chair of the Board,
ensuring the continuation of CopperPoint's strategy and momentum
into the future. We believe that he has truly earned this role.
With the talent and expertise present on the Board, the Management
Team, and the 800+ employees that drive this organization, the
company is in great hands going forward."
"I am thrilled to continue investing in and realizing
CopperPoint's transformation and growth in this new, expanded
role," said Marc Schmittlein. "We
have built a platform that continues to deliver as an industry
standout, and I am excited to see the continued momentum and upward
trajectory of the company."
At the annual meeting of its members, CopperPoint members and
policyholders also re-elected Monica
Digilio and formally elected Thomas
Bradley to the Company's Board of Directors. Each was
elected to three-year terms.
About CopperPoint Insurance Companies
Founded in 1925, CopperPoint Insurance Companies,
www.copperpoint.com, is a leading provider of workers' compensation
and commercial property and casualty insurance solutions. With an
expanded line of insurance products and a growing footprint
United States, CopperPoint is
positioned to meet the evolving needs of its agents, brokers and
customers. It has $5.1 billion in
total assets and an enterprise surplus of over $1.5 billion.
CopperPoint Mutual Insurance Holding Company is the corporate
parent of CopperPoint Insurance Companies, Pacific Compensation
Insurance Company and Alaska National Insurance Company. All
companies are rated A (Excellent) by AM Best.
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SOURCE CopperPoint Insurance Company