Fireman's Fund Insurance Company announced yesterday that itschief executive officer, Joseph J. Beneducci, had resigned afterless than six months on the job.
|The Novato, Calif.-based carrier--a member of the AllianzGroup--had named Mr. Beneducci to the post effective Jan. 1 whenCharles "Chuck" Kavitsky was promoted to president of Allianz ofAmerica.
|Mr. Kavitsky has now been named Fireman's interim CEO, thecompany said.
|"Joe has been a significant part of Fireman's Fund's success,and I want to thank him for his many contributions," said Mr.Kavitsky.
|The interim CEO said that in the wake of Mr. Beneducci'sdeparture, "our direction and strategy will continue asplanned."
|Mr. Kavitsky added that the company is fortunate to have "deepbench strength in its leadership team, in addition to a strongposition in the property-casualty insurance market."
|Mr. Kavitsky served as Fireman's Fund CEO from 2004 to the endof 2006.
|The company said that a successor to Mr. Beneducci "will benamed in due course." It did not say if the exited CEO has revealedhis own employment plans.
|Fireman's Fund listed assets of $11.9 billion and a $3 billionpolicyholder surplus in the fourth quarter of 2006. Gross writtenpremiums have grown from over $3 billion in 1992 to $5.7 billion in2006, the company reported.
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